Arista Networks (ANET) shares tumbled in extended trading Thursday as the cybersecurity firm reported shrinking margins, despite profits that topped Wall Street’s expectations. The cloud networking giant saw revenue grow 7% year-over-year to $1.81 billion, above the analyst consensus from Visible Alpha. Net income came in at $747.9 million or $2.33 per share, up from $545.3 million or $1.72 per share a year earlier and above projections. However, Arista’s gross margin in the third quarter was 64.2%, down slightly from 64.9% a quarter earlier. In the fourth quarter, Arista said it expects gross margins to fall to between 63% and…
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By Satoshi Sugiyama TOKYO (Reuters) -Japanese household spending fell in September for the second straight month, government data showed on Friday, as higher prices choked consumers’ appetite in a discouraging sign for the central bank’s plans to hike rates further. Consumer spending fell 1.1% from the year earlier, against the median market forecast for a 2.1% decline. On a seasonally adjusted, month-on-month basis, it fell 1.3%, versus an estimated 0.7% drop. “There are one-time bumps in consumption but it doesn’t last long,” said Takeshi Minami, chief economist at Norinchukin Research Institute. “The background to this is the high cost of…
Online election betting platform Polymarket plans to bring its prediction markets back to customers in the United States, on the heels of accurately forecasting the electoral win of President-elect Donald Trump.”I want to give a lot of credit to the people who fought the battle to go and legalize political prediction markets in America,” Polymarket founder and CEO Shayne Coplan told Andrew Ross Sorkin on “Squawk Box,” in his first live TV interview Thursday. “Now we are in the position to be aggressive around expansion.”Polymarket’s betting platforms are currently only available to customers outside of the United States. In 2022, it halted U.S.…
By Vladimir Soldatkin and Guy Faulconbridge SOCHI, Russia (Reuters) -Russian President Vladimir Putin on Thursday congratulated Donald Trump on winning the U.S. election, praised him for showing courage when a gunman tried to assassinate him, and said Moscow was ready for dialogue with the Republican president-elect. In his first public remarks since Trump’s win, Putin said Trump had acted like a real man during an assassination attempt on him while he was speaking at a campaign rally in Pennsylvania in July. “He behaved, in my opinion, in a very correct way, courageously, like a real man,” Putin said at the…
Amazon is discussing making a second multibillion-dollar investment in OpenAI rival Anthropic, according to a person involved in the discussions. The new deal is similar to Amazon’s initial $4 billion dollar investment in the startup, which was struck last year. But this time, Amazon wants … Source link
(Reuters) – Amazon.com is in talks for its second multi-billion dollar investment in artificial intelligence startup Anthropic, the Information reported on Thursday, citing a person familiar with the matter. (Reporting by Akash Sriram in Bengaluru; editing by Alan Barona) Copyright 2024 Thomson … Source link
PURCHASE, N.Y.–(BUSINESS WIRE)–MBIA Inc. (NYSE:MBI) today posted its third quarter 2024 financial results on its website at https://investor.mbia.com/investor-relations/financial-information/default.aspx. The financial results will also be furnished to the Securities and Exchange Commission (SEC) on a Current Report on Form 8-K available at sec.gov. As previously announced, the Company will host a webcast and conference call for investors tomorrow, Friday, November 8, at 8:00 a.m. (ET) to discuss its financial results and other issues related to the Company. The conference call webcast will be available on MBIA (NYSE:)’s website at https://investor.mbia.com/investor-relations/events-and-presentations/default.aspx. MBIA Inc., headquartered in Purchase, New York, is a holding company…
Good for us if China indeed reduces its steel exports after Trump’s win: Tata Steel MD TV NarendranNov 7, 2024, 11:03 PM ISTTata Steel’s Managing Director, TV Narendran, expressed concerns over the global steel industry’s profitability, stating that current prices are insufficient for companies to invest in planned capacity expansions. He highlighted the impact of Chinese steel exports, often priced predatory low, on global prices.Prolonged Chinese imports may hit Indian steel industry’s investments, Tata Steel CEO saysNov 7, 2024, 08:46 PM ISTTata Steel’s CEO has warned that an influx of cheap Chinese steel imports is threatening the Indian steel industry.…
(Bloomberg) — Asian equities climbed Friday after stocks, bonds and commodities all rallied in the US as the Federal Reserve cut interest rates. Most Read from Bloomberg Australian and Japanese shares advanced along with Hong Kong futures, while the Golden Dragon index of US-listed Chinese companies jumped 3.5%. The S&P 500 gained 0.7% and the Nasdaq 100 climbed 1.5%, both setting fresh peaks for a second day. An index of global equities also advanced to a record. Treasuries were little changed in Asia after rallying Thursday when the Fed lowered its benchmark by 25 basis points as economists forecast. The…
Crosslink Capital Inc., a significant shareholder in Weave Communications, Inc. (NYSE:WEAV), has sold 125,000 shares of the company, according to a recent SEC filing. The shares were sold at an average price of $13.99, amounting to a total transaction value of approximately $1.75 million. The sale, which took place on November 6, 2024, leaves Crosslink with about 7.9 million shares of Weave Communications following the transaction. In addition to this sale, the filing reported a prior distribution of 75,733 shares to its members without additional consideration. This transaction, however, did not involve any monetary exchange. The shares are held indirectly…