CISCO ANNUAL REVENUE FORECAST
Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
Nike sinks over 18% as gloomy sales forecast fans growth concerns
Nike shares slumped 18.6% in early trade on Friday as a forecast for a surprise drop in annual sales amplified investor concerns about the pace of the sportswear giant's efforts to stem market share losses to upstart brands such as On and Hoka.
FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
Accenture forecasts 2024 revenue growth above estimates
Accenture, a provider of IT services, forecasted annual revenue growth significantly exceeding expectations on Thursday. This optimistic outlook stems from increased adoption of artificial intelligence, which is compensating for subdued growth in enterprise spending.
Adobe surges 16% as AI optimism fuels annual revenue forecast
The forecast reassured investors that Adobe, a key player in the market for photo and video editing tools, is unlikely to lose customers to AI startups like OpenAI, the creator of Dall-E, which enables users to generate images with simple text prompts.
Broadcom soars as demand for AI chips powers forecast raise
Broadcom surged about 15% on Thursday as its upbeat annual forecast highlighted insatiable demand for chips used in powering AI-focused technology, while its announcement of a stock split added to the euphoria.
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Hewlett Packard surges over 12% as AI-server demand powers strong results
Analysts at Bernstein said this suggests potential for HPE and peer Dell Technologies to have "very strong shipments over the next quarter or two as they deliver on backlog", but it depends upon customers being willing to take deliveries earlier.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
Workday shares sink over 13% as slower hiring hits payroll services demand
Workday shares dropped on Friday due to a lowered annual subscription revenue forecast amidst economic uncertainty and slower hiring impacting demand for payroll services.
Nvidia's blowout forecast adds fresh fuel to AI rally; stock jumps 9%
Nvidia rallied 9% on Thursday as its bumper revenue forecast reinforced investor confidence in the AI-driven boom in chip demand, lifting shares across the semiconductor sector.
Walmart lifts full-year sales and profit forecast, shares soar 7% to hit record high
Walmart raised its full-year forecast and reported better-than-expected first-quarter results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high.
Arm shares fall 6% as tepid forecast takes shine off AI optimism
Shares of Arm Holdings fell 6% on Thursday as the chip designer's downbeat annual revenue forecast cooled some of the enthusiasm around the stock following its AI-powered jump in recent months.
Arm's annual revenue forecast fails to impress investors; shares tumble
For the current fiscal first quarter, Arm forecast revenue in a range between $875 million and $925 million, with a midpoint of $900 million, compared with an average analyst estimate of $857.5 million, according to LSEG data.
Uber shares tumble 9% on surprise net loss, weak second-quarter forecast
The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.
Reddit's strong forecasts spark share surge after first results since IPO
The earnings report - the first since Reddit went public in March - also included a revenue forecast for the current quarter that was above Wall Street estimates, as more people flock to the social media platform behind 2021's meme-stock frenzy.
Palantir raises 2024 forecast on robust AI demand
Palantir said it conducted 660 boot camps in the first quarter and closed 87 deals worth $1 million or more across the business, with its customer count increasing by 42%. It did not specify how many customers were converted through the boot camp.
Eli Lilly rises 6%; company raises 2024 sales forecast by $2 billion
Explosive demand and increased manufacturing capacity for Eli Lilly's weight-loss drug Zepbound drove the company to raise its annual sales forecast by $2 billion on Tuesday, lifting its shares nearly 6%.
Netflix to stop reporting subscriber tally as streaming wars cool
Netflix halts quarterly subscriber reporting, signals growth slowdown. Stock falls on missed revenue forecast. Global total hits 269.6M. Ad-supported streaming attracts 9.3M. Focus on major milestones and competition from Walt Disney.
ADRs of Wipro, Infosys slump as Accenture cuts guidance on clouded outlook
The IT industry has been grappling with sluggish demand for software and consulting services as high interest rates discouraged enterprises from discretionary spending.
Accenture fans IT industry spending gloom with annual forecast cut
Accenture now expects full-year revenue growth in the range of 1% to 3%, from its prior forecast of 2% to 5%. The firm has been grappling with sluggish demand for its IT and consulting services as high interest rates slam the brakes on an industry that benefited from breakneck growth during the pandemic.
Dell soars 25%, hits record high as annual forecast gets AI boost
Dell Technologies surged 25% to hit a record high on Friday, following an upbeat annual forecast that indicated the tech equipment maker was also benefiting from the AI boom.
Hewlett Packard Enterprise sees downbeat Q2 revenue on weak networking solutions demand
Enterprises are hesitant to sign new contracts, commit to long-term initiatives or take on new technology partners, although IT spend is expected to increase in 2024, according to research firm Gartner.
Macy's forecasts annual sales below estimates, to shutter 150 stores
Macy's plans to close stores, monetize assets, and faces a proxy battle. Weak annual sales and a 4.2% decline in holiday quarter sales contribute to a loss per share of 26 cents.
Cisco to lay off more than 4,000 employees, lowers annual revenue forecast
Analysts expect demand for Cisco's products to remain under pressure, as clients in the telecom industry restrict spending, prioritizing clearing their excess inventory of networking gear.
IBM forecasts annual revenue growth above estimates on AI adoption rush
IBM forecasts full-year revenue growth above market estimates, banking on stable demand for its IT software and consultancy services from businesses adopting AI. The company plans to lay off employees but hire for more AI-centered roles. IBM's generative AI book of business doubled in Q4, with deals made with new customers, including SAP SE.
Computer parts maker Logitech works for growth after beating forecasts
The maker of computer mice, keyboards, and webcams has been dealing with customers wrestling with inflation, and uncertainty among businesses about how to equip their offices as they move to hybrid working.
Cybersecurity firm SentinelOne raises annual revenue forecast on robust spending
Firms have prioritised expenditure on cybersecurity, as sticky inflation and high-interest rates forced them to cut back on spending elsewhere. Worldwide spending on security and risk management is projected to increase 14.3% in 2024, according to research firm Gartner.
Cisco slumps over 12% after cutting annual profit, revenue forecasts
The company was set to lose more than $25 billion in market value, if losses hold, based on its share price of $46.90, after it lowered its projections for profit and revenue for fiscal year 2024 on Wednesday.
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