Smartsheet CEO Mark Mader.Source: SmartsheetCollaboration software maker Smartsheet on Tuesday announced it would be acquired by Blackstone and Vista Equity Partners in an all-cash deal which valued the company at $8.4 billion. This is breaking news. Please refresh for updates. Source link
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Jakub Porzycki | Nurphoto | Getty ImagesWarner Bros. Discovery is partnering with Google to integrate the internet giant’s AI technology into its Max video streaming platform to automatically generate captions.The two companies said they were working to make Max’s captions more accurate using a new caption-generation tool, which is being referred to internally as “caption AI.”They said the tech, built on Google’s Vertex AI development platform for generative AI products, is able to automatically convert video content into text. It will initially be used for unscripted programming on Max, as opposed to scripted shows and films where dialog is already available.The new…
Here are Tuesday’s biggest calls on Wall Street: Piper Sandler initiates Colgate-Palmolive and Church & Dwight as overweight Piper said both consumer products company offer an attractive risk/reward. “We’re constructive on the overall sector, but when taking a deeper look into some key attributes that could greatly differentiate one company from another amidst the current macro backdrop as well as valuation state and tendencies, we see more positive risk/reward for CHD / CL and more balanced risk/reward for PG.” Baird initiates ResMed as outperform Baird said in its initiation of ResMed that it’s bullish on shares of the sleep apnea…
Check out the companies making headlines in premarket trading. Thor Industries — Shares dropped 2% after the RV maker issued disappointing fiscal year earnings guidance. The company expects earnings per share to range between $4 and $5, well below a StreetAccount estimate of $6.27 per share. Arlo Technologies — The security systems company popped 3% after authorizing a $50 million share repurchase program. It comes amid a strong year, with shares surging about 24.5% in 2024. Visa — Shares slid 2% following a Bloomberg report that the Justice Department is planning to file a monopoly lawsuit against the payment network…
Here are the most important news items that investors need to start their trading day:1. Inching higherU.S. stocks climbed again Monday as investors digest the Federal Reserve’s major rate cut last week. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all rose only modestly, as the 30-stock Dow notched another record close. As traders look ahead to the Fed’s next policy decision in November, stocks could become more responsive to signs of economic weakness. One indicator will come Tuesday in the Conference Board’s consumer confidence reading for September. Follow live market updates.2. No clear pathNeel Kashkari, President and…
Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Yuki Iwamura | Bloomberg | Getty ImagesCaroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. On Tuesday, she will face her own sentencing.Ellison’s role in the implosion of the crypto empire run by her former boss and ex-boyfriend Sam Bankman-Fried was to lie to investors, help steal billions of dollars from FTX customers, and subsequently re-purpose those funds toward bets and debts accrued at Alameda Research, the digital asset hedge fund she…
California’s attorney general sued ExxonMobil on Monday, alleging that the company had waged a “campaign of deception” for decades to mislead consumers and convince them that recycling was a viable solution for plastic waste. The lawsuit, filed in Superior Court of California in San Francisco, says ExxonMobil promoted recycling as a “cure-all for plastic waste,” even though the company knew that plastic would be difficult to eradicate and that certain methods of recycling could not process much of the waste produced. It further alleges that ExxonMobil violated state regulations over water pollution and misleading marketing, among others. “Exxon Mobil knew that 95% of…
Nvidia is the latest poster child on Wall Street for “10 baggers,” stocks that soar in price 10 times. But the AI chipmaker’s path to ” 10-bagger ” status included what is also a typical slump (or two) along the way, according to Trivariate Research. The dominant maker of artificial intelligence processors is among the most recent names to climb 10-fold over five years, earning it the coveted 10-bagger designation, according to Trivariate founder and former Morgan Stanley chief U.S. equity strategist Adam Parker. But the history of these stocks also gave Parker a cautionary tale for investors searching for…
Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022.Christopher Goodney | Bloomberg | Getty ImagesNovo Nordisk’s top executive is slated to face a Senate grilling on Tuesday over the high prices of the company’s weight loss drug Wegovy and diabetes treatment Ozempic, as demand for both injections soars in the U.S. Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.m. ET on Tuesday in Washington, D.C. It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs…
Microsoft-owned GitHub says that 90% of the world’s open-source projects are stored on its code repository platform.Jonathan Raa | Nurphoto via Getty ImagesMicrosoft-owned developer platform GitHub on Tuesday said it is giving enterprise users the ability to limit the storage of their sensitive software code to data centers located in the European Union.The move, which is part of a bid to meet the bloc’s strict data protection requirements, comes amid a broader political push for digital “sovereignty.”The company said that it would offer customers of its GitHub Enterprise Cloud greater control over where their repository data is stored, with the option to…
