Market Watch

(CNN)Microsoft on Tuesday posted weaker-than-expected revenue and a double-digit percentage drop in profit for the final three months of last year amid broader economic uncertainty and reduced demand for personal computers and software. The tech giant reported revenue of $52.7 billion for the quarter, a modest 2% increase from the year prior but slightly less than analysts had expected. It reported net income of $16.4 billion, a 12% decline from the year prior. Microsoft confirms it’s investing billions in the creator of ChatGPT The earnings results come at a turbulent moment for Microsoft, and the tech industry as a whole . Microsoft said last week that it plans to lay off 10,000 employees as part of broader cost-cutting measures. In his explanation of the cuts, CEO Satya Nadella pointed to changing demand for digital services years into the pandemic as well as looming recession fears. Demand for personal computers, and the Microsoft operating systems that power them, has pulled back after experiencing a boom early in the pandemic. Consulting firm Gartner said earlier this month that worldwide PC shipments fell more than 28% in the fourth quarter of 2022 compared to the same period the prior year. This marked […]

Click here to view original web page at www.cnn.com

Bloomberg/Bloomberg via Getty Images Microsoft (NASDAQ: MSFT ) Chief Executive Satya Nadella wasted little time Tuesday in laying out the software titan’s new philosophy behind its push into artificial intelligence technology. Speaking on a conference call to discuss Microsoft’s ( MSFT ) fiscal second-quarter results, Nadella said the company’s emphasis on AI is based in large part on a "changing [business] environment" that is resulting from customers that are looking to optimize their own spending on technology "given the [ongoing] economic uncertainty." Nadella said the realities of the market have had an impact on Microsoft’s ( MSFT ) own priorities. "Maximum [business] value gets created during shifts in the market," Nadella said. "We are well positioned to capture the opportunities in AI used by customers like OpenAI." Nadella’s comments came one day after Microsoft ( MSFT ) confirmed it has made a "multiyear, multibillion dollar" investment in ChatGPT developer OpenAI. Microsoft ( MSFT ) didn’t disclose the exact amount of its investment, but various reports pegged it at $10B . Last week, Microsoft ( MSFT ) said it would begin integrate ChatGPT into its Azure cloud services offerings . On Tuesday, Nadella said Microsoft ( MSFT ) has already […]

Click here to view original web page at seekingalpha.com

Jan 24 (Reuters) – Microsoft Corp (MSFT.O) forecast cloud revenue for the current quarter at just below Wall Street expectations, dampening some enthusiasm for its beat on quarterly profit earlier on Tuesday. Shares initially rose sharply in after-hours trading but lost steam after the company’s cloud forecast. Microsoft said its third-quarter intelligent cloud revenue would be $21.7 billion to $22 billion, while analysts forecast $22.14 billion. In the second quarter, Microsoft’s cloud services business helped offset a slump in the personal computer market. Those results will likely allay fears of a meltdown in the tech industry which has laid off tens of thousands of employees this year in anticipation of an economic downturn. Microsoft said Azure cloud product revenue rose 31% in the quarter, in line with estimates compiled by Visible Alpha, while its broader Intelligent Cloud division posted revenue of $21.5 billion, versus a Wall Street consensus of $21.4 billion compiled by Refinitiv. Azure could get a boost from cloud spending from the growth of artificial intelligence. "There’s a variety of ways that we can bring that technology either in specific offerings or to improve existing offerings," said Brett Iversen, Microsoft’s head of investor relations, referring to OpenAI, […]

Click here to view original web page at www.reuters.com

Photo Submitted New Venture Development instructors and UNCL team members pose with their winnings at the Ivey Business Plan Competition in Ontario, Canada. From left: David Hinton, Michael Burton, Clayton Woodruff, Payton Lenz and Sarah Goforth. A graduate student entrepreneurship team from the U of A won first place in Canada’s prestigious Ivey Business Plan Competition , securing $20,000 to put toward their innovative solution of deterring bicycle theft without the need for a bike lock. UNCL Co., short for Universal Network Controlled Lock, is an app-enabled security device that retrofits to public bike racks, allowing riders to secure and monitor their bike without the burden of carrying a heavy lock. UNCL is the third U of A team to win the competition, held this year from Jan. 20-21 at the Morrissette Institute for Entrepreneurship at the University of Western Ontario. Previous U of A winners include Learning DifferentiatED and Picasolar in 2012 and 2013, respectively. UNCL emerged from the New Venture Development course sequence in the Sam M. Walton College of Business . The team formed when the four co-founders met in the NVD class, where CEO Michael Burton recruited them to work on his idea for a […]

Click here to view original web page at news.uark.edu

A top 10 rise for the College of Engineering and another strong showing by the College of Business headline the University of Nebraska–Lincoln’s progress in the 2023 U.S. News and World Report rankings of online master’s degree programs. Improving eight spots from No. 17 in 2022, the Master of Engineering Management program within the College of Engineering is No. 9 in U.S. News’ 2023 Best Online Master’s in Engineering list. In the same category, the program is ranked No. 6 overall for veterans. Four College of Business programs finished among the top 20 in the U.S. News report. Among all online Master of Business Administration programs, MBA@Nebraska improved seven spots to No. 19 and jumped three places to No. 15 for best options for veterans. And, for the first time, Nebraska Business is at No. 14 for best online business master’s programs. Business programs finishing at No. 14 include Master of Science in business analytics, finance and supply chain management. Nebraska’s Master of Engineering Management is designed for working professionals in engineering, technology and science industries. It is one of nine programs internationally certified by the American Society for Engineering Management for exceeding rigorous ASEM standards and for its […]

Click here to view original web page at news.unl.edu

Today is hump day, but any tuned-in market watcher will be ignoring camels and monitoring cars on this Wednesday. I’m senior reporter Phil Rosen, here to ring in a pivotal Tesla earnings report with you this morning. While Elon Musk faces lawsuits in San Francisco for his infamous "funding secured" tweet, his net worth has skyrocketed nearly $11 billion this week. But his wealth — and the wealth of his shareholders — could whipsaw today, depending on what comes across in a particularly important earnings report. If this was forwarded to you, sign up here . Download Insider’s app here. Elon Musk 1. Everyone knows Tesla took a bludgeoning in 2022. But amid the bearishness (not to mention distractions from Twitter), Elon Musk’s car maker is still a favorite on Wall Street. FactSet data shows that 64% of analysts give Tesla stock a "buy" or "overweight" rating. That’s the highest proportion since 2014. The median target price estimate for Tesla is $194 — which represents roughly a 25% upside from current levels. For Wedbush’s Dan Ives, today marks one of the most important moments in Tesla’s history. The stock has plenty of upside for 2023 , but Ives believes […]

Click here to view original web page at www.businessinsider.com

Closings and delays have been announced by some area businesses and schools as a winter storm prepares to move through the area. Access closings, delays, anytime, anywhere, on any device, 5 different ways: For information on how to enroll your school, church, or business in the free School Watch Program, click here .

Click here to view original web page at www.whio.com

Ifo index rises to 90.2 in Jan. vs 88.6 in Dec. Germany expected to avoid recession – govt economic report GDP could shrink slightly in Q1 – Ifo economist BERLIN, Jan 25 (Reuters) – German business morale brightened in January as Europe’s largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6 in December. "The German economy is starting the new year with more confidence," Ifo’s president Clemens Fuest said. The increase is driven by considerably less pessimistic expectations, while companies were, however, somewhat less satisfied with their current situation, Ifo said. "There probably won’t be a recession, but GDP could shrink slightly in the first quarter," Ifo’s economist Klaus Wohlrabe said. Franziska Palmas, senior Europe economist at Capital Economics noted that present conditions remained challenging. "The fall in its current conditions index is a reminder that the economy is not out of the woods yet." The euro zone largest economy is expected to narrowly avoid recession this year with price-adjusted growth […]

Click here to view original web page at www.reuters.com

getty Over the past several months, we have seen turmoil in the markets as technology company stocks have been hit with significant price decreases. We have seen a large number of layoffs in high-tech companies, and many companies are forecasting lower growth and investment for the next year. This is the first time in more than 10 years that we have seen the technology industry operate in a more constrained business cycle, and as product leaders, we need to adapt and help our organizations deal with this changing business cycle. We’ll need to revisit some of the leadership techniques and enablement that we haven’t had to deal with for several years. Managing the human talent on your product teams, managing the message to the rest of the business and recognizing that there will be additional pressures on you as a business and product leader are all required to be successful in these challenging times. Below are some concrete steps that product leaders can take to be successful in difficult economic climates. 1. Recognize uncertainty. Everyone in the organization is going to feel more uncertain about business prospects than previously. Over the past 10 years, the challenge has been hiring […]

Click here to view original web page at www.forbes.com

Cessna employee Dwight Bennett works inside of a jet during a tour of the Cessna business jet assembly line at their manufacturing plant in Wichita, Kansas August 14, 2012. REUTERS/Jeff Tuttle Jan 25 (Reuters) – Cessna jet maker Textron Inc (TXT.N) reported a better-than-expected revenue on Wednesday, as a pandemic-driven demand for private jets shows little signs of cooling. The spread of the COVID-19 pandemic drove up demand for private plane travel from the ultra rich, boosting results at business jet makers in North America. Textron reported a fourth-quarter revenue of $3.64 billion, compared with analysts’ average estimate of $3.61 billion, as per Refinitiv data. Revenue at Textron Aviation, the company’s biggest unit, came in at $1.6 billion in the quarter ended Dec. 31, up $223 million, on higher prices and sales volume. The business jet maker also forecast an adjusted profit per share of $5 to $5.20 for 2023. Analysts expect a profit of $4.51 apiece. It was not immediately clear if the figures were comparable. Textron forecast a 2023 revenue of about $14.0 billion, up from $12.9 billion in the year-ago period.

Click here to view original web page at www.reuters.com