Parcel delivery company UPS (NYSE:UPS) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 1.5% year on year to $25.3 billion. On the other hand, the company’s full-year revenue guidance of $89 billion at the midpoint came in 6.3% below analysts’ estimates. Its non-GAAP profit of $2.75 per share was 8.6% above analysts’ consensus estimates.
IBM shares jumped 13% to lead S&P 500 gainers Thursday, a day after the company posted fourth-quarter results that topped analysts' estimates as its artificial intelligence (AI)-enabled business surged.
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(Bloomberg) -- DeepSeek’s claim that it has found a lower cost way to create AI models has made software stocks a hot trade.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoUS Students’ Reading Scores Drop to Worst in More Than 20 YearsTexas HOA Charged With Discrimination for Banning Section 8 RentersThe sudden emergence of DeepSeek’s model at fi
Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.
"We sit here and we're scouring the globe, and everyone's losing brain cells around AI," Porter Collins of "The Big Short" fame said.
Meta's earnings call is today at 5 pm ET. META stock heads into the report up 15% YTD. Analysts are focused on AI monetization efforts and DeepSeek.
"In our view this is a correction and not the start of a sustained bear market," Goldman Sachs said. DeepSeek sparked a $1 trillion market rout on Monday.
Meta Platforms Inc. posted sharply higher profit and revenue for its fourth quarter on Wednesday, thanks to higher ad revenue on its social media properties, sending its shares up in after-hours trading even as it forecast increasing expenses on its artificial intelligence efforts. CEO Mark Zuckerberg said he expects 2025 to “be the year when a highly intelligent and personalized AI assistant reaches more than 1 billion people, and I expect Meta AI to be that leading AI assistant.” “We continue to make good progress on AI, glasses, and the future of social media,” Zuckerberg said in a statement.
DeepSeek’s success initially rattled investors’ assumptions about the AI spending wave that has swept through Silicon Valley in recent years.