Technology News

Applied Materials second-quarter forecast misses on weak chip demand

(Reuters) - Chip gear maker Applied Materials Inc forecast second-quarter profit and revenue below analysts’ estimates on Thursday, underscoring the weakness in the semiconductor industry that has forced some companies to temper their outlook. Applied Materials said it expects current-quarter adjusted earnings between 62 and 70 cents per share and net sales in a range of $3.33 billion to $3.63 billion. Analysts...

14 Feb 11:31 PM 0 Read More...

As Amazon drops New York City project, progressives claim a major coup

NEW YORK (Reuters) - U.S. Representative Alexandria Ocasio-Cortez wasted no time on Thursday in calling Amazon’s decision to scrap plans to build a major New York outpost with nearly $3 billion in city and state incentives a big victory for progressive politicians. The democratic socialist congresswoman has become the face of the Democratic Party’s ascendant left wing, thanks in part to her upset victory last yea...

14 Feb 11:29 PM 0 Read More...

U.S. negotiating multibillion-dollar fine with Facebook: report

WASHINGTON (Reuters) - The U.S. government and Facebook Inc are negotiating a settlement over the company’s privacy lapses that could require the online social network to pay a multibillion-dollar fine, the Washington Post reported on Thursday. The newspaper said that the U.S. Federal Trade Commission and Facebook had not agreed on an amount, citing two people it said were familiar with the matter. Facebook reporte...

14 Feb 11:23 PM 0 Read More...

Nvidia sales outlook tops analyst views; shares rise

(Reuters) - Chip maker Nvidia Corp on Thursday forecast sales for its current fiscal year that topped Wall Street expectations, sending its shares up 8 percent in late trading. The Santa Clara, California-based company said it expected revenues for its fiscal 2020 year to be “flat or down slightly” from the $11.7 billion it recorded in the just-ended fiscal year. The forecast exceeds the $10.8 billion in revenue ...

14 Feb 10:35 PM 0 Read More...

Billionaire Stanley Druckenmiller placed bet against Tesla during fourth quarter

NEW YORK (Reuters) - Billionaire investor Stanley Druckenmiller bet against electric carmaker Tesla Inc during the fourth quarter, wagering that its share price will fall, according to quarterly filings released on Thursday. Druckenmiller’s family fund, named after the hedge fund Duquesne Capital that he founded in 1981, bought put options on Tesla shares worth $99.8 million, a Security and Exchange Commission fili...

14 Feb 10:16 PM 0 Read More...

Feeling unwelcome, Amazon ditches plans for New York hub

NEW YORK (Reuters) - Amazon.com Inc abruptly scrapped plans to build a major outpost in New York that could have created 25,000 jobs, blaming opposition from local leaders upset by the nearly $3 billion in incentives promised by state and city politicians. The company said on Thursday it did not see consistently “positive, collaborative” relationships with state and local officials. Opponents of the project feare...

14 Feb 10:06 PM 0 Read More...

Amazon's NY exit spurs reactions on money saved and jobs lost

NEW YORK (Reuters) - Amazon.com Inc’s decision on Thursday to scrap its proposal to locate a second headquarters in the Queens borough of New York City ignited a sea of dueling reactions on Twitter, with some calling it a victory for working people while others said it meant that fewer people would work. Some people who praised the pullout included references to the wealth of Amazon’s chief executive and founder,...

14 Feb 10:05 PM 0 Read More...

Fintechs could help Mexicans abroad send money home more cheaply: Finance Ministry

MEXICO CITY (Reuters) - Mexico’s new government is trying to slash the cost of sending cash home for Mexican families living abroad and is hoping competition from fintechs will encourage banks and services like Western Union to reduce commissions and improve exchange rates. Deputy Finance Minister Arturo Herrera said the government did not plan to place new regulations on the flow of remittances, one of the country...

14 Feb 9:44 PM 0 Read More...

Israeli software firm DriveNets raises $110 million in first funding round

TEL AVIV (Reuters) - Israeli networking software company DriveNets said on Thursday it raised $110 million in its first round of financing led by Bessemer Venture Partners and Israel’s Pitango Growth, with the participation of several private investors. The new financing will help the company expand its product portfolio and penetrate new markets, it said. DriveNets said its software allows communication service p...

14 Feb 8:11 PM 0 Read More...

Amazon pulls the plug on New York headquarters

(Reuters) - Amazon.com Inc abruptly scrapped plans for a new headquarters in New York that could have created 25,000 jobs, blaming opposition from local leaders upset by the nearly $3 billion in incentives promised by state and city politicians. The company said on Thursday it did not see consistently “positive, collaborative” relationships with state and local officials. Opponents of the project feared congestio...

14 Feb 8:04 PM 0 Read More...