Morgan Stanley’s Equity Desk Carries the Quarter
Ted Pick opened his remarks to investors Wednesday by pointing at a franchise rather than a forecast. Morgan Stanley’s equities traders produced $5.8 billion of revenue in the third quarter,…
A $1.2 Billion Penalty and a Trading Miss at Bank of America
Brian Moynihan told analysts in September that trading revenue would come in roughly flat for the third quarter. On Wednesday morning, the chief executive of Bank of America had to…
Netflix Cuts 1,000 Jobs as Growth Slows
Employees at Netflix learned on Wednesday morning that roughly 1,000 of them were being let go. Co-Chief Executives Ted Sarandos and Greg Peters announced the cuts, about 6% of the…
TSMC’s Sixth Straight Record Quarter Meets a Higher Bar
Taiwan Semiconductor Manufacturing has already told investors most of what it earned last quarter. What it has not told them is what it expects next, and that is the part…
Musk Backs Micron’s Memory Prices and Faults Its Rivals
The post arrived at 5:52 p.m. Eastern on Oct. 13, a reply from Elon Musk to an investor summarizing a JPMorgan note about the memory chip market. In two sentences,…
Siemens Buys the Exclusive Rights to a Supercapacitor Maker’s Data-Center Line
Inside an artificial-intelligence data center, the electrical load swings in milliseconds as racks of accelerators switch between heavy computation and near idle. The grid and the backup systems around them…
SK’s Chairman Sells a Stake to Michael Dell’s Family Office to Pay a Divorce Bill
Chey Tae-won, the chairman of SK Group, agreed to sell 972,493 shares of the conglomerate’s holding company, SK Inc, to an investment fund managed by the family office of Dell…
A 200,000-Seat Copilot Order Lands on the Firms That Must Change the Work
On Tuesday, Microsoft said it had signed agreements with four of India’s largest information-technology services firms, each committing to deploy more than 50,000 licenses of Microsoft 365 Copilot. Tata Consultancy…
Anthropic Hands Investors the Numbers and Lets Them Set the Price
At its headquarters in San Francisco on Tuesday, Anthropic gave a group of institutional investors its third-quarter financials and asked them, in effect, to name a price. They came back…
ASML Raises Its Outlook and Says Its Own Factories Can’t Keep Up
Christophe Fouquet runs the company that makes the machines that make advanced chips, and on Wednesday he told investors that his customers have started asking about delivery slots for 2029…
