Applications Software

The Gaza War Has Been Big Business for U.S. Companies

Two years on, Israel’s war in Gaza might be finally drawing to a close. The conflict built an unprecedented arms pipeline from the U.S. to Israel that continues to flow, generating substantial business for big U.S. companies—including Boeing, Northrop Grumman and Caterpillar.

Sales of U.S. weapons to Israel have surged since October 2023, with Washington approving more than $32 billion in armaments, ammunition and other equipment to the Israeli military over that time, according to a Wall Street Journal analysis of State Department disclosures.

Benoit Faucon

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November 12, 2025

Dayforce, Scholar Rock, and More Stocks See Action From Activist Investors

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October 17, 2025

Opinion | The Oct. 7 Warning for the U.S. on China

Hamas’s shock troops poured across Israel’s border two years ago, kidnapping, raping and killing civilian men, women and children. Israel’s bitter experience offers lessons America should learn before our own moment of reckoning.

The most important is that the hypothetical war can actually happen. Even if we’re intellectually prepared, there’s a risk that years of relative peace has lulled us into a false sense of security. The Israeli defense establishment never truly believed Hamas would launch a full-scale invasion. They viewed Gaza as a chronic but manageable problem—one for diplomats and intelligence officers, distant from the daily concerns of citizens. Israeli politicians and generals also spoke of open conflict with the Iran-led Islamist axis much like their American counterparts speak of China and a Taiwan crisis—the pacing threat and the most likely test, yes, but ultimately a question for tomorrow. Then tomorrow came.

Mike Gallagher

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October 7, 2025

Amazon is worth more than Alphabet for the first time in 16 months

Earnings season is causing a reshuffling among the ranks of the largest U.S. companies.

Amazon.com Inc.
AMZN,
+7.87%
overtook Alphabet Inc.
GOOG,
+0.58%

GOOGL,
+0.86%
and become the third-largest U.S. public company upon Friday’s close, after its results were well received by Wall Street and Alphabet’s earlier in the week got panned.

Amazon edged out Alphabet only barely, with a closing market cap of $1.785 trillion compared with $1.777 trillion for Alphabet, according to Dow Jones Market Data.

Read: Amazon says the ‘magic words.’ They could spur a $110 billion market-cap boost.

The e-commerce giant hadn’t been valued above the Google parent company since Sept. 30, 2022, according to Dow Jones Market Data. That was also the last time Amazon was the third-largest by market cap.

Wall Street found plenty to like in Amazon’s latest report, including drastic improvement in operating income, upbeat commentary on the cloud and momentum within the retail business. Meanwhile, Alphabet’s earnings were met with a chillier reception as the company talked up heavy spending plans linked to its artificial-intelligence ambitions.

The very top of the market-cap ranks has changed up as well lately, though admittedly with less of a tie to earnings. Microsoft Corp.’s
MSFT,
+1.84%
closing valuation surpassed Apple Inc.’s
AAPL,
-0.54%
on Jan. 12 for the first time since November 2021. While the two traded around the top spot in January, Microsoft has been sitting there since Jan. 25.

Don’t miss: Microsoft earnings may have offered a big bullish clue about cloud growth

Microsoft also rests alone in the $3 trillion club, with Apple, the only other U.S. company to ever claim membership, having fallen out of it.

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February 2, 2024

Russian hacking group accessed Microsoft executive emails, company says

Microsoft Corp. said Friday a Russian hacking group illegally gained access to some of its top executives’ email accounts.

In a regulatory filing, the software giant
MSFT,
+1.22%
said a group called Nobelium was responsible for the attack.

In late November, the group accessed “a legacy non-production test tenant account and [gained] a foothold, and then used the account’s permissions to access a very small percentage of Microsoft corporate email accounts, including members of our senior leadership team and employees in our cybersecurity, legal, and other functions, and exfiltrated some emails and attached documents,” Microsoft’s Security Response Center wrote in a blog post.

Microsoft’s senior leadership team, which includes Chief Financial Officer Amy Hood and President Brad Smith, routinely meets with Chief Executive Satya Nadella.

The company reported that there were no signs Nobelium had obtained customer data, production systems or proprietary source code.

A Microsoft spokesperson provided this comment late Friday: “Our security team recently detected an attack on our corporate systems attributed to the Russian state-sponsored actor Midnight Blizzard. We immediately activated our response process to investigate, disrupt malicious activity, mitigate the attack, and deny the threat actor further access. The attack was not the result of a vulnerability in Microsoft products or services. To date, there is no evidence that the threat actor had any access to customer environments, production systems, source code, or AI systems. More information is available in our blog.”

Nobelium, also known as APT29 or Cozy Bear, is a shadowy hacking group that attempted to crack the systems of the U.S. Defense Department and did breach the Democratic National Committee’s systems in 2016.

Netskope Threat Labs, which tracks Nobelium, said the hacking group uses a variety of techniques to compromise accounts, including compromised Azure AD accounts to collect victim emails. “This hack underscores the importance of securing corporate email accounts, even those in non-production and test environments,” a Netskope spokesperson said. “Even if the email account isn’t regularly used or doesn’t contain anything sensitive, it can still be used to launch additional attacks.”

Microsoft’s disclosure comes amid new U.S. requirements to report cybersecurity incidents.

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January 19, 2024

So Long, Apple and Tesla. We Built a Better Magnificent 7.

By Nicholas Jasinski

Jan 12, 2024, 1:00 am EST

In this article

AMZN

AAPL

MSFT

NVDA

SPX

The Magnificent Seven had an extraordinary year in 2023—one that will be very difficult to repeat. And there will be a new Magnificent Seven in 2024.

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January 11, 2024

If Nvidia looked more like Salesforce, it might unlock billions more in cash

Nvidia Corp. is raking in billions in cash, but one analyst thinks the chip maker could throw $100 billion more onto the pile if it started to look more like Salesforce Inc.

Nvidia
NVDA,
+2.29%
might unlock even more cash by developing businesses that expand recurring revenue, according to BofA Securities analyst Vivek Arya. The company has suffered some boom-and-bust cycles in recent years, and another bust could be smoothed by developing longer-term software contracts akin to those of Salesforce
CRM,
-0.05%.
, Workday Inc.
WDAY,
-0.48%
and ServiceNow Inc.
NOW,
+0.64%,
which generate recurring revenue from their customers.

Arya sees a pathway for Nvidia to rake in $100 billion in incremental free cash flow over the next two years if it can bulk up its own recurring-revenue options.

Read: Apple’s stock needs to get ‘unstuck’ — and its innovation rut may not be helping

“While NVDA has a solid lead in AI, hardware-oriented businesses are not valued as highly as visibility tends to be limited,” Arya wrote. Nvidia generates only about $1 billion, or 2%, of its sales from software and subscriptions. Arya doesn’t think the company can get much higher than $5 billion with its software and subscription offerings unless it turns to acquisitions.

Nvidia has shown some openness to deals that would beef up its intellectual property and software offerings, Arya notes, as it tried to buy British chip designer Arm Holdings
ARM,
-1.96%
before facing regulatory pushback.

“We envision [Nvidia] considering more enhanced partnerships/M&A of software companies that are helping traditional enterprise customers deploy, monitor and analyze [generative AI] apps,” he wrote. Nvidia “is already serving them via on-premise hardware and/or its DGX cloud service, but we believe greater direct recurring software/service channel could be more impactful.”

The addition of more recurring-revenue streams could help Nvidia’s “relatively depressed trading multiple,” in Arya’s view. Nvidia shares trade at a 20% to 30% discount to its “Magnificent Seven” peers on the basis of price to earnings as well as enterprise value to free cash flow, even though the company’s compound annual growth rate on the top line is three times what it is for those other tech giants.

The discount is “partly due to uncertainty in [calendar 2025] growth prospects, and partly due to a very hardware-dependent business unlike other large-cap software/internet peers that have recurring-revenue profiles,” he wrote.

Arya has a buy rating and $700 price objective on the stock.

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January 5, 2024

The Russell 2000 Index has soared, but you might be better off looking elsewhere for quality small-cap stocks

The Russell 2000 Index soared 12% in December, which might reflect investors’ exuberance about the state of the U.S. economy — it appears the Federal Reserve has won its battle against inflation.

But if you are looking to broaden your exposure to the stock market beyond the large-cap S&P 500
SPX,
buying shares of a fund that tracks the Russell 2000 Index
RUT
might not be the best way to do it. This is because the Russell 2000 isn’t selective — it is made up of the smallest 2,000 companies by market capitalization in the Russell 3000 Index
RUA,
which itself is designed to capture about 98% of the U.S. public equity market.

A better choice might be the S&P Small Cap 600 Index
SML
because S&P Global requires companies to show four consecutive quarters of profitability to be initially included in the index, among other criteria.

Below is a screen of analysts’ favorite stocks among the S&P Small Cap 600, along with another for the Russell 2000.

Watch for a “head fake”

Much of the small-cap buying in December might have resulted from covering of short positions by hedge-fund managers. This idea is backed by the timing of trading activity immediately following the Federal Open Market Committee’s announcement on Dec. 13 that it wouldn’t change its interest-rate policy, according to MacroTourist blogger Kevin Muir. The Fed’s economic projections released the same day also indicate three cuts to the federal-funds rate in 2024.

Heading into the end of the year, a fund manager who had shorted small-caps, and then was surprised by the Fed’s interest-rate projections, might have scrambled to buy stocks it had shorted to close-out the positions and hopefully lock in gains, or limit losses.

That buying activity and resulting pop in small-cap prices could set up a typical “head fake” for investors as the new year begins, according to Muir.

The long-term case for quality

Looking at data for companies’ most recently reported fiscal quarters, 58% of the Russell 2000 reported positive earnings per share, according to data provided by FactSet. In other words, hundreds of these companies were losing money. These might include promising companies facing “binary events,” such as make-or-break drug trials in the biotechnology industry.

In comparison, 78% of companies among the S&P Small Cap 600 were profitable, and 93% of the S&P 500 were in the black.

Here are long-term performance figures for exchange-traded funds that track all three indexes:

ETF	Ticker	2023	3 years	5 years	10 years	15 years	20 years
iShares Russell 2000 ETF	IWM	17%	7%	61%	99%	428%	365%
iShares Core S&P Small Cap ETF	IJR	16%	25%	69%	129%	540%	515%
SPDR S&P 500 ETF Trust	SPY	26%	34%	108%	210%	629%	527%
Source: FactSet

An approach tracking the S&P Small Cap 600 has outperformed the Russell 2000 for all periods, with margins widening as you go further back.

Brett Arends: You own the wrong small-cap fund. How to get into a better one.

Looking ahead for quality… or not

For the first screen, we began with the S&P Small Cap 600 and narrowed the list to 385 companies covered by at least five analysts polled by FactSet. Then we cut the list to 92 companies with “buy” or equivalent ratings among at least 75% of the covering analysts.

Here are the 20 remaining stocks among the S&P Small Cap 600 with the highest 12-month upside potential indicated by analysts’ consensus price targets:

Company	Ticker	Share “buy” ratings	Dec. 29 price	Consensus price target	Implied 12-month upside potential
Vir Biotechnology Inc.	VIR, +4.47%	88%	$10.06	$32.00	218%
Arcus Biosciences Inc.	RCUS, +3.04%	82%	$19.10	$41.00	115%
Xencor Inc.	XNCR, +6.03%	92%	$21.23	$39.83	88%
Dynavax Technologies Corp.	DVAX, +2.86%	100%	$13.98	$24.80	77%
ModivCare Inc.	MODV, +0.95%	100%	$43.99	$75.50	72%
Xperi Inc	XPER, +1.81%	80%	$11.02	$18.20	65%
Thryv Holdings Inc.	THRY,	100%	$20.35	$32.75	61%
Ligand Pharmaceuticals Inc.	LGND, +1.25%	100%	$71.42	$114.80	61%
Green Plains Inc.	GPRE, -1.67%	80%	$25.22	$40.30	60%
Patterson-UTI Energy Inc.	PTEN, +0.28%	75%	$10.80	$17.00	57%
Ironwood Pharmaceuticals Inc. Class A	IRWD, +8.48%	83%	$11.44	$17.83	56%
Catalyst Pharmaceuticals Inc.	CPRX, +1.78%	100%	$16.81	$26.20	56%
Payoneer Global Inc.	PAYO, -3.45%	100%	$5.21	$8.00	54%
Helix Energy Solutions Group Inc.	HLX, -2.63%	83%	$10.28	$15.00	46%
Arlo Technologies Inc.	ARLO, -3.05%	100%	$9.52	$13.80	45%
Pacira Biosciences Inc.	PCRX, -5.16%	100%	$33.74	$48.40	43%
Privia Health Group Inc.	PRVA, +2.95%	100%	$23.03	$32.53	41%
Semtech Corp.	SMTC, -1.23%	92%	$21.91	$30.90	41%
Talos Energy Inc.	TALO, +1.19%	78%	$14.23	$20.00	41%
Digi International Inc.	DGII, -1.21%	100%	$26.00	$36.14	39%
Source: FactSet

Any stock screen should only be considered a starting point. You should do your own research to form your own opinion before making any investment. one way to begin is by clicking on the tickers for more about each company.

Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

Moving on to the Russell 2000, when we narrowed this group to stocks covered by at least five analysts polled by FactSet, we were left with 936 companies. Among these, 355 have “buy” or equivalent ratings among at least 75% of the covering analysts.

Among those 355 stocks in the Russell 2000, these 20 have the highest implied upside over the next year, based on consensus price targets:

Company	Ticker	Share “buy” ratings	Dec. 29 price	Consensus price target	Implied 12-month upside potential
Karyopharm Therapeutics Inc.	KPTI, +4.18%	75%	$0.87	$6.00	594%
Rallybio Corp.	RLYB, +0.42%	100%	$2.39	$16.50	590%
Vor Biopharma Inc.	VOR, -0.89%	100%	$2.25	$15.44	586%
Tenaya Therapeutics Inc.	TNYA, -0.62%	100%	$3.24	$19.14	491%
Compass Therapeutics Inc.	CMPX, -5.13%	86%	$1.56	$9.17	488%
Vigil Neuroscience Inc.	VIGL, +2.66%	88%	$3.38	$18.75	455%
Trevi Therapeutics Inc.	TRVI, -2.99%	100%	$1.34	$7.33	447%
Inozyme Pharma Inc.	INZY, +1.64%	100%	$4.26	$21.00	393%
Gritstone bio Inc.	GRTS, +6.86%	100%	$2.04	$10.00	390%
Actinium Pharmaceuticals Inc.	ATNM, +4.72%	83%	$5.08	$23.36	360%
Lineage Cell Therapeutics Inc.	LCTX,	86%	$1.09	$4.83	343%
Century Therapeutics Inc.	IPSC, +9.64%	86%	$3.32	$14.67	342%
Acrivon Therapeutics Inc.	ACRV, +1.83%	100%	$4.92	$21.13	329%
Avidity Biosciences Inc.	RNA, +1.22%	100%	$9.05	$37.50	314%
Longboard Pharmaceuticals Inc.	LBPH, +316.25%	100%	$6.03	$24.17	301%
Omega Therapeutics Inc.	OMGA, -1.33%	100%	$3.01	$12.00	299%
Allogene Therapeutics Inc.	ALLO, +12.77%	82%	$3.21	$12.79	298%
X4 Pharmaceuticals Inc.	XFOR, +5.21%	86%	$0.84	$3.26	289%
Caribou Biosciences Inc.	CRBU, -2.79%	89%	$5.73	$22.25	288%
Stoke Therapeutics Inc.	STOK, +11.41%	78%	$5.26	$19.33	268%
Source: FactSet

That’s right — this Russell 2000 list is all biotech. And in case you are wondering if any companies are on both lists, the answer is no.

Don’t miss: 11 dividend stocks with high yields expected to be well supported in 2024 per strict criteria

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January 2, 2024

Why Alphabet Could Be the Best Bet Among Magnificent 7 Stocks in the New Year

Alphabet could be the best bet among the Magnificent Seven stocks that led the market higher in 2023.

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December 24, 2023

Synopsys and Ansys in talks to merge: report

Shares of Ansys Inc. soared 18% in trading Friday on reports the company is in discussions to be acquired by Synopsys Inc. in a deal that would create a design-software behemoth.

The potential deal would kick off 2024 with a mega-merger, even as the Federal Trade Commission attempts to crack down on such transactions. Talks remain fluid and a third party might still emerge as a possible suitor of Ansys, according to a Wall Street Journal report, which cited people familiar with the situation.

Ansys
ANSS,
+18.08%,
which has a market value of nearly $26.3 billion, makes software that helps predict how products in aerospace, healthcare and automotive applications will work in the real world. A deal could be struck early in 2024, according to people familiar with the matter. Ansys reported revenue of $2.1 billion in 2022.

Synopsys
SNPS,
-6.34%,
with a market value of $85.1 billion, makes software that engineers use to design and test silicon chips used in smartphones, self-driving cars and other forms of artificial intelligence. Its stock has climbed 65% this year as investors have hopped on the AI bandwagon boom. Shares of Synopsys dipped 6% in late trading Friday.

Synopsys’s customers include Nvidia Corp.
NVDA,
-0.33%,
Intel Corp.
INTC,
+1.95%
and Advanced Micro Devices Inc.
AMD,
-0.22%.

Representatives from Synopsys and Ansys were not immediately available for comment.

Should the companies strike a merger, it would offer a fresh test for the FTC and its chair, Lina Khan, who have opposed large tech mergers and acquisitions. The agency unsuccessfully sued Facebook parent Meta Platforms Inc.
META,
-0.20%
in its pursuit of VR developer Within, as well as Microsoft Corp.’s
MSFT,
+0.28%
$69 billion purchase of Activision Blizzard Inc.

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December 22, 2023

Activision Blizzard to pay $55 million to settle California civil-rights lawsuit

Videogame maker Activision Blizzard has agreed to pay nearly $55 million to settle a California civil-rights lawsuit brought over complaints of sexual harassment, discrimination and pay disparities by women employees that helped trigger the company’s acquisition by Microsoft.

The settlement, announced by the California Civil Rights Department on Friday evening, resolves the lawsuit filed against the “Call of Duty” videogame studio by the agency in 2021 over claims that it “discriminated against women at the company, including by denying promotion opportunities and paying them less than men for doing substantially similar work,” CRD said.

The agreement, subject to court approval, will see Activision pay nearly $46 million into a settlement fund dedicated to compensating women employees and contract workers at the company, plus more than $9 million in attorneys’ fees and costs. Additionally, Activision will take steps “to help ensure fair pay and promotion practices at the company,” including retaining an independent consultant to evaluate its compensation and promotion policies.

Yet the settlement also sees CRD withdraw its initial claims alleging a culture of widespread, systemic workplace sexual harassment at Activision, according to a copy of the agreement provided to MarketWatch. The document notes that the department is filing an amended complaint that removes the sexual-harassment allegations against the company and focuses on the gender-based pay and promotion claims.

CRD made no note of its prior sexual-harassment claims against Activision in its announcement Friday. A spokesperson for the department said the statement “largely speaks for itself with respect to the historic nature of this more than $50 million settlement agreement, which will bring direct relief and compensation to women who were harmed by the company’s discriminatory practices.

Representatives for Activision declined to comment.

The Wall Street Journal first reported the news of the settlement Friday.

The California agency’s complaint was one of several high-profile investigations by both state and federal regulators in recent years into alleged workplace misconduct at Activision and failures by its leadership to respond appropriately.

While Activision repeatedly denied the allegations, they ramped up pressure on the Santa Monica, Calif.-based company and its CEO, Bobby Kotick, and eventually led to a $68.7 billion takeover bid by Microsoft
MSFT,
+1.31%
in January 2022. The acquisition closed this October after receiving approval by U.K. and E.U. antitrust regulators, though the U.S. Federal Trade Commission continues to challenge the deal in court. Kotick is expected to leave the company, which he led for more than three decades, at the end of this year.

The settlement would be the second-largest ever for the California Civil Rights Department, according to the Journal, after its $100 million agreement with another Los Angeles-area videogame developer, Riot Games, to resolve gender-discrimination allegations in 2021. The agency had initially sought a much-larger settlement with Activision, the publication reported, citing how the state had estimated the company’s liability at nearly $1 billion to some 2,500 employees with potential claims.

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December 15, 2023

Broadcom now ranks among 10 largest U.S. companies after big 2023 stock gains

Nvidia Corp. has catapulted up the list of the most valuable U.S. companies this year, rising eight spots from the end of last year to sit in the fifth position with a market capitalization of $1.2 trillion.

But other chip companies have seen their positions rise even more. Just look at Broadcom Inc.
AVGO,
+2.10%,
which has climbed 16 spots over the course of 2023 and on Friday cracked the top 10 for the first time, according to Dow Jones Market Data. Broadcom eclipsed Visa Inc.
V,
-0.27%
at Friday’s close to take the No. 10 spot, with a valuation of $527.7 billion.

Read: Could Nvidia’s stock — up 231% this year — actually be a bargain?

Admittedly, Broadcom had some help along the way. The company acquired VMware in late November, and its market capitalization gained about $50 billion at the close of the transaction, according to FactSet data.

But Broadcom’s ascent also reflects how chip stocks have gotten more shine this year amid the artificial-intelligence frenzy. Broadcom’s stock has doubled so far in 2023.

Mizuho desk-based analyst Jordan Klein expects “an order acceleration in networking silicon for AI clusters” in the second half of 2024, as calendar year 2025 could bring a big year of capital-expenditure investments in AI for ethernet back-end high-speed connections.

Broadcom “is the KEY WINNER in that investment cycle as the arms dealer to all networking OEMs,” or original equipment manufacturers, wrote Klein, who’s associated with Mizuho’s sales team and not its research arm.

Advanced Micro Devices Inc.
AMD,
+0.83%
has also seen a nice march up the charts, rising 48 spots so far in 2023 to rank 30th in terms of market cap. AMD was valued at $223.9 billion as of Friday’s close.

“We view AMD as well-positioned to gain incremental share of the hugely profitable $100 billion-plus accelerator market while continuing to make progress in server [central processing units] against incumbent [Intel],” BofA Securities analyst Vivek Arya wrote in a recent upgrade.

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December 15, 2023

Oracle Stock Falls After Earnings Report Disappoints

Oracle shares were heading sharply lower in late trading Monday after the enterprise software giant posted November quarter financial results that fell short of both the company’s own guidance and consensus Street estimates.

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December 11, 2023

Broadcom logs earnings beat, but chip stock edges lower

Broadcom Inc. topped profit expectations for its latest quarter, but shares of the chip company were falling in Thursday’s aftermarket action.

The company recorded fiscal fourth-quarter net income of $3.5 billion, or $8.25 a share, whereas it posted net income of $3.3 billion, or $7.83 a share, in the year-earlier period.

On an adjusted basis, Broadcom
AVGO,
+2.06%
earned $11.06 a share, up from $10.45 a share a year before, while analysts tracked by FactSet were modeling $10.96 a share.

Revenue increased to $9.30 billion from $8.93 billion, while the FactSet consensus was for $9.28 billion. Broadcom generated $7.33 billion in revenue from semiconductor solutions, up 3%, along with $1.97 billion in revenue from infrastructure solutions, up 7%.

Results were “driven by investments in accelerators and network connectivity for AI by hyperscalers,” Chief Executive Hock Tan said in a release.

Broadcom’s stock was off about 2% in Thursday’s extended session.

For the new fiscal year, Broadcom anticipates $50 billion in revenue, when including contributions from the recently closed acquisition of VMware that may not be fully reflected in consensus estimates. The company also expects adjusted earnings before interest, taxes, depreciation and amortization to be about 60% of projected revenue; it was 65% of revenue in the most recent fiscal year.

The company expects its semiconductor segment to sustain a mid- to high-single-digit revenue growth rate in fiscal 2024.

Opinion: AMD is poised for huge AI growth in 2024 and the stock market is paying attention

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December 7, 2023

MongoDB earnings clear Wall Street’s bar, but stock falls

MongoDB Inc. easily cleared expectations with its latest results and outlook, but shares of the database company were declining 5% in Tuesday’s extended session.

The database-management company posted a fiscal third-quarter net loss of $29.3 million, or 41 cents a share, compared with a net loss of $84.9 million, or $1.23 a share, in the year-prior quarter. On an adjusted basis, MongoDB
MDB,
+2.52%
posted earnings per share of 96 cents, while analysts were expecting 51 cents a share.

MongoDB’s revenue came in at $433 million, up 30% from a year before, while the FactSet consensus was for $406 million.

“MongoDB has clearly established itself as an indispensable part of the tech stack of any organization focused on building durable competitive differentiation through software development,” Chief Executive Dev Ittycheria said in a release. He noted that the company was having success “in winning new workloads from both new and existing customers across verticals, geographies and customer segments.”

For the fiscal fourth quarter, MongoDB anticipates $429 million to $433 million in revenue, along with 44 cents to 46 cents in adjusted EPS. The FactSet consensus was for $418 million in revenue and 37 cents in adjusted EPS.

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December 5, 2023

UiPath’s stock soars after profit, revenue and ARR rise above forecasts

Shares of UiPath Inc. soared late Thursday after the automation-software company reported fiscal-third-quarter earnings and revenue that rose above expectations, amid strength in the licenses and subscription-services businesses.

The stock
PATH,
-0.55%
shot up 11% in after-hours trading, putting it on a path to trade at the highest closing levels seen since April 2022.

Net losses for the quarter to Oct. 31 narrowed to $31.5 million, or 6 cents a share, from $57.7 million, or 10 cents a share, in the same period a year ago. Excluding nonrecurring items, such as stock-based compensation expenses, adjusted earnings per share rose to 12 cents from 5 cents to beat the FactSet consensus of 7 cents.

Total revenue grew 24% to $325.9 million, above the FactSet consensus of $315.6 million.

Licenses revenue jumped 25.3% to $148.1 million, well above the FactSet consensus of $137.5 million, and subscription-services revenue climbed 28.7% to $167.5 million to top expectations of $166.9 million. Meanwhile, professional services and other revenue dropped 28.4% to $10.3 million, to miss forecasts of $11.2 million.

Annual recurring revenue increased 24% to $1.38 billion, above the FactSet consensus of $1.36 billion.

For the fourth quarter, the company expects revenue of $381 million to $386 million, which surrounds the FactSet consensus of $383 million.

The stock, which fell 0.6% during Thursday’s regular session after closing the previous session at a 15-month high, has run up 26.6% over the past three months, while the SPDR S&P Software & Services ETF
XSW,
-0.60%
has tacked on 1.3% and the S&P 500
SPX,
+0.38%
has edged up 1.2%.

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November 30, 2023

Snowflake Shares Gain on Strong Earnings

Snowflake shares were gaining ground Wednesday after the cloud data warehouse software company posted better-than-expected results for the quarter ended Oct. 31.

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November 29, 2023

The Cost of Doing Business With China? A $40,000 Dinner With Xi Jinping Might Be Just the Start

Updated Nov. 28, 2023 12:54 am ET

Broadcom Chief Executive Hock Tan shelled out $40,000 to sit at Xi Jinping’s table for the Chinese leader’s recent dinner in San Francisco with the heads of American businesses. Tan had a lot more at stake—a $69 billion deal he was waiting on China to approve.

For months, Chinese regulators wouldn’t clear the U.S. chipmaker’s bid to buy enterprise software developer VMware, leading Broadcom to put off its date for completion of the deal—first announced in May 2022—three times. Beijing had held up previous mergers involving U.S. companies. Intel’s planned acquisition of Israeli firm Tower Semiconductor, for more than $5 billion, was scuttled in August after Chinese regulators failed to approve it.

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November 27, 2023

Sam Altman to Join Microsoft Following OpenAI Ouster

Updated Nov. 20, 2023 6:34 am ET

SAN FRANCISCO—Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday with the board that fired him declining to agree to the proposed terms of his reinstatement.

Microsoft Chief Executive Satya Nadella posted on X (formerly Twitter) late Sunday that Altman and Greg Brockman, OpenAI’s president and co-founder who resigned Friday in protest over Altman’s ouster, will lead its team alongside unspecified colleagues. Nadella said Microsoft was committed to its partnership with OpenAI and that it would move quickly to provide Altman and Brockman with “the resources needed for their success.”

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November 20, 2023

Apple, Microsoft, Nvidia—What Tech Stocks Hedge Funds Are Buying and Selling

It’s filing season for a string of major hedge funds, and big tech names like Apple, Microsoft, and Nvidia were among the most-traded equities in the third quarter.

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November 15, 2023

Tag: Applications Software

Watch for a “head fake”

The long-term case for quality

Looking ahead for quality… or not