) rose on news it will reinsure $5.4-billion of its reserves as it looks to transfer some risk from its portfolio and free up capital for stock buybacks.
Shares of the Santa Clara, California-based company fell 5 per cent after it posted results but quickly pared losses and opened higher on Thursday. Initially its Blackwell family of chips will carry gross margins in the low 70-per-cent range, but will increase to the mid-70-per-cent range when production ramps up, Kress said.
“Investors have become accustomed to huge beats from this company, but doing that is getting harder and harder,” said Ryan Detrick, chief market strategist at Carson Group. “This was still a very solid report, but the truth is when the bar is this high it makes things just that much tougher.” The slowdown in revenue growth, however, obfuscates enormous demand for the company’s AI chips, which dominate the market.
“Our partnership with Snowflake enables enterprises of any size and industry to access our most advanced models within their secure data environment,” said Michael Gerstenhaber, vice-president of product at Anthropic. Total revenue for the third quarter was US$942.1-million, surpassing estimates of US$897-million. Quarterly product revenue of US$900.3-million also beat expectations.
“Amid significant market challenges this year, we proactively adjusted our business operations to better align with the current environment,” CEO John May said. Concerns around supply chains and a surge in demand led dealers to significantly increase their inventories last year, boosting sales for Deere.“As expected, farmers are pulling back on equipment purchases, given the growing P&L pressure, and that is reflected in Deere’s results and guidance for 2025,” said Chad Dillard, senior analyst at Bernstein.The company reported a profit of US$4.55 per share for the fourth quarter ended Oct. 27, above Wall Street expectations of US$3.
Alibaba split into six business units in 2023, in the biggest revamp of its 24-year history. Prior to this latest amalgamation of two of those groups, Group CEO Wu had also been CEO of the Taobao and Tmall Group and Alibaba’s cloud division. Palo Alto raised its fiscal 2025 revenue outlook to between US$9.12-billion and US$9.17-billion, while analysts expected US$9.13-billion, as per data compiled by LSEG.
Palo Alto reported revenue of US$2.14-billion for the first quarter, beating estimates of US$2.12-billion. U.S.-listed shares of PDD, which runs the Pinduoduo online shopping site in China and Temu internationally, were down in Thursday trading.
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