Match forecasts annual revenue below estimates, names new CEO
:Match Group forecast its annual revenue below Wall Street estimates on Tuesday, a sign users are dialing back spending on its dating apps, sending the Tinder parent's shares down 9.5 per cent after the bell.Online dating apps have been seeing a slowdown in demand and user engagement over the p ...
AMD disappoints investors with AI chip sales, but forecast tops estimates
:Advanced Micro Devices failed to impress investors waiting for the chipmaker to gain ground against AI heavyweight Nvidia, even as its quarterly results and revenue outlook exceeded analyst estimates on Tuesday.Shares of the Santa Clara, California-based company fell about 5 per cent in extended tr ...
AMD forecast tops first-quarter revenue estimates
:Advanced Micro Devices forecast first-quarter revenue above Wall Street estimates on Tuesday, betting on strong demand for its AI chips as Wall Street's technology heavyweights build infrastructure to dominate the emerging technology.Shares of the Santa Clara, California-based company fell mor ...
Snap beats profit estimates on strength in advertising platform
Snap beat Wall Street estimates for quarterly profit on Tuesday, benefiting from improvements to the Snapchat parent's advertising platform.Shares of the Santa Monica, California-based company rose more than 14 per cent in extended trading.The company has been making investments in artificial i ...
Google parent Alphabet misses quarterly revenue estimates
:Alphabet missed Wall Street estimates for quarterly revenue on Tuesday, in a sign the Google parent was taking a hit from increased competition in the digital advertising market and a slowdown in its cloud computing business.The tech giant's shares were down 8 per cent in extended trading. Alp ...
EA forecasts fourth-quarter bookings below estimates on weak gamer spending
:Electronic Arts forecast fourth-quarter bookings below Wall Street expectations on Tuesday, as the videogame publisher grapples with a slowdown in spending at its popular soccer franchise. It also announced a $1 billion share repurchase plan, which sent its shares up around 1 per cent in extended t ...
Lumen beats quarterly revenue estimates on data center demand
:Fibre-optic cable provider Lumen Technologies reported fourth-quarter revenue above Wall Street estimates on Tuesday, driven by rising demand for data centers amid the AI boom, sending its shares up 7.5 per cent after the bell.As the need for cloud computing and AI heightens, Lumen has benefited fr ...
eFishery fiasco: Are state-linked investors risking their reputation investing directly in startups?
Benjamin Cher - It might be wiser for such investors to stick to a fund-of-fund strategy than to do direct investments. The reputational fallout from...
Peter Kwee could be sued over Laguna club’s financials: liquidators
Tay Peck Gek - Claims could include those for breach of directors’ duty, clawback of assets disposed of at undervalue and clawback of debts paid or...
US Congress to form cryptocurrency working group
Republican French Hill, chair of the House Financial Services Committee, said on Tuesday lawmakers from both chambers of the U.S. Congress would form a working group to develop policy favoring the development of the digital assets industry.
Morgan Stanley to increase sale of loans tied to Musk's X, Bloomberg News reports
A group of Morgan Stanley-led banks is set to increase a sale of loans tied to Elon Musk's social media platform X after receiving stronger-than-expected demand from investors, Bloomberg News reported on Tuesday. The banks had initially planned to sell about $3 billion worth of loans, Reuters r ...
OpenAI targets higher education in the US with ChatGPT rollout at California State University
Microsoft-backed OpenAI said on Tuesday it will roll out an education-specific version of its chatbot to about 500,000 students and faculty at California State University as it looks to expand its user base in the academic sector and counter competition from rivals like Alphabet . The rollout will c ...
UK's media regulator drops probe into under-age access to OnlyFans
:Ofcom, Britain's media regulator, on Tuesday closed its investigation into whether people under the age of 18 are accessing OnlyFans, but said it will continue to probe whether the adults-only website failed to provide complete and accurate information when requested."Where appropriate, O ...
Elon Musk and OpenAI head to court to spar over nonprofit conversion
OAKLAND, Calif. : - Lawyers for Elon Musk and ChatGPT maker OpenAI are set to butt heads in the courtroom on Tuesday as a judge will hear arguments on Musk’s lawsuit to halt OpenAI’s conversion to a for-profit entity.Musk’s request to block OpenAI’s conversion is the latest move in a grudge ...
GM takes full control of Cruise in autonomous personal vehicle shift
DETROIT :General Motors said on Tuesday it had completed the full acquisition of its Cruise business to focus on developing the autonomous technology for personal vehicles not robotaxis.The Detroit automaker said it plans to integrate the Cruise technology into its Super Cruise system, which allows ...
PayPal's profit push slows unbranded business growth, shares drop 10%
:PayPal's shares fell nearly 10 per cent on Tuesday, after the digital payments giant's unbranded card processing business saw a sharp slowdown in growth and its operating margin shrank in the fourth quarter. Unbranded payments, which include transactions for other firms rather than PayPal ...
Amazon to face legal action after laying off 1,900 in Quebec
The union also launched a campaign calling on consumers to boycott the multinational by not shopping on its online platform and cancelling...
Shein, Temu, Amazon Haul set for price hikes as US shuts trade loophole
Shein and Temu, both of which sell products ranging from toys to smartphones, have grown rapidly in the US thanks in part...
KKR raises offer for Fuji Soft in US$4.3 billion tussle with Bain
KKR & Co raised its offer price for Fuji Soft to fend off a rival bid from Bain Capital, the latest chapter...
US: Wall St muted at open after China’s retaliatory tariffs
WALL Street’s main indexes were subdued at the open on Tuesday (Feb 4) as investor appetite for risk waned after China retaliated...
Laguna club owner Peter Kwee in court to lay claim to five properties held in bankrupt daughter’s name
Jessie Lim - The case turns on whether a trust exists between him and his daughter Karen regarding the properties, which are in her name, and...
KKR quarterly profit beats expectation on dealmaking revival
ALTERNATIVE asset manager KKR & Co reported a fourth-quarter profit that beat Wall Street expectations on Tuesday (Feb 4), as a rebound...
Gartner beats quarterly profit estimates as contract value grows
:Gartner on Tuesday beat estimates for fourth-quarter profit and reported revenue in line with expectations, as the research and advisory firm benefited from an increase in contract values.While Gartner issued a weaker forecast for 2025, analysts noted investors were pinning their hopes on the accel ...
Scandal-hit unicorn eFishery ropes FTI Consulting into acting management team
Megan Cheah - The move ‘aims to facilitate a thorough and objective business review to determine the best path forward for the group’, says eFishery’s...
FTI Consulting now in acting management of scandal-hit Indonesian unicorn eFishery
Megan Cheah - The move ‘aims to facilitate a thorough and objective business review to determine the best path forward for the group’, says eFishery’s...
Spotify forecasts profit above estimates on subscriber growth, price increases
In the fourth quarter, premium subscribers rose 11 per cent to 263 million, compared with Visible Alpha estimates of 260 million.
Estee Lauder forecasts bleak quarterly profit, to cut up to 7,000 jobs
ESTEE Lauder on Tuesday (Feb 4) forecast third-quarter profit well below estimates, citing persistent weak demand at airports and travel destinations such...
Estee Lauder expands restructuring plan with 7,000 job cuts, posts sales beat
ESTEE Lauder on Tuesday (Feb 4) expanded its restructuring plan that would include up to 7,000 job cuts and posted smaller-than-expected drop...
Singapore’s Syfe makes A$65 million bid for Australian investing platform SelfWealth
Megan Cheah - It is a 12% premium over an existing offer
RHB raises Centurion’s target price, earnings on higher rate assumptions
Felicia Tan - RHB Bank Singapore analyst Alfie Yeo has kept his “buy” call on Centurion Corporation with a higher target price of $1.16 from $1.06, as he sees several positive factors for the company going ahead. For one, Centurion remains “well positioned” to see better rental rates in Singapore due to t ...
Tesla supplier Panasonic to cut costs to support shift into AI
In the December quarter, Panasonic reported a 4% rise in operating profit, helped by its lifestyle segment
China hits back against Trump’s tariffs with targeted actions
Bloomberg - China retaliated to Donald Trump’s opening trade war tariffs by targeting a handful of American companies and slapping levies on some US goods, in a move seemingly designed to avoid escalating tensions between the world’s biggest economies. Beijing imposed a 15% levy on less than US$5 billion ($ ...
Palantir shares jump on upbeat revenue outlook as businesses adopt AI
Palantir shares rallied over 18 per cent in premarket trading after it forecast upbeat annual revenue fueled by strong demand for its software and data analytics services from businesses racing to adopt generative AI.Palantir, which provides services to governments such as software that visualizes a ...
Cybersecurity firm SailPoint seeks up to $11.5 billion valuation in US IPO
Cybersecurity firm SailPoint said on Tuesday it was targeting a valuation of up to $11.5 billion in its initial public offering in the United States.Private equity-backed companies are expected to lead the charge in the IPO market as sponsors look to unload holdings and return capital to investors.
