Results for: Technology

Cadence Design Systems’ shares plunged in extended trading after the company issued a weak outlook for its fiscal second quarter. Sales are projected between $1.03B and $1.05B, falling short of analysts’ estimates of $1.11B. Adjusted earnings are expected in the range of $1.20 to $1.24 per share, significantly below analysts’ expectations of $1.43 per share. Despite this, Cadence raised its full-year outlook with sales anticipated between $4.56B and $4.62B, an increase from its previous forecast. Adjusted earnings are also expected to be higher, ranging between $5.88 and $5.98 per share. Notably, Cadence’s revenue slipped 1% in the first quarter, but its adjusted earnings per share came in above analysts’ estimates.

CoStar Group, an online real estate marketplace provider, has entered into an agreement to acquire Matterport, a virtual tour software firm, for $1.6 billion. Under the terms of the deal, CoStar will pay $5.50 per Matterport share, with stockholders receiving $2.75 in cash and $2.75 in CoStar Group shares for each share they hold.

A recent report suggests that the upcoming iPhone 16 series may feature capacitive buttons instead of the traditional physical buttons. This change could eliminate moving parts and lead to a more seamless user experience. However, some details in the report raise questions about the timeline and accuracy of the information.

Amidst a challenging economic environment, companies are increasingly turning to quasi-mergers to expand their reach and share resources without fully combining. Joint ventures (JVs), partnerships, and other cooperative arrangements offer flexibility, reduce regulatory scrutiny, and enable firms to navigate complex technological advancements and protectionism. From tech giants like Disney and Microsoft to carmakers like Ford and Renault, quasi-mergers are becoming the preferred method for enlarging business empires while mitigating risks.

Brent Thill, senior analyst at Jefferies, was interviewed on ‘Power Lunch’ to share his insights on the influence of Artificial Intelligence (AI) on tech industry earnings. He emphasized the transformative potential of AI, which has led to increased efficiency, cost savings, and improved customer experiences for tech companies. Thill also highlighted the importance of AI advancements in driving innovation and the development of new products and services.

A poverty simulation is coming to Lapeer County on Wednesday, April 24th. The simulation, which will be held at the Lapeer Education and Technology Center, is a unique experience designed to spotlight the struggles faced by individuals and families living in poverty.

PwC’s latest Global Top 100 report reveals a significant jump in the market cap of the world’s largest public companies. The top 100 companies now boast a combined market cap of $8,438 billion, driven by investor interest in artificial intelligence (AI). Microsoft, Nvidia, Alphabet, Amazon, and Meta contributed to 54% of the market cap growth, with Nvidia alone accounting for 20%. Other sectors besides tech, including consumer discretionary, communication services, and financials, also experienced significant growth.

The National Basketball Association (NBA) is reportedly in talks with both tech giants and legacy media companies for a new long-term television rights deal that emphasizes streaming options. This move reflects the growing shift towards streaming services and away from traditional broadcast channels. Live sports continue to attract a large audience, particularly with the increasing popularity of gambling and fantasy sports, fueling the competition for streaming rights.

Salesforce’s stock rose on Monday following a report that it is in talks to acquire Informatica, a cloud data management company. Informatica would be Salesforce’s largest acquisition since it purchased Slack in 2021. The potential deal comes as Salesforce faces competition from Google, which is also targeting enterprise customers.

Unfair dismissals and incorrect wide calls marred India’s recent match, raising questions about the reliability of umpiring despite the availability of technology.