Manufacturing equipment and systems provider Advanced Energy (NASDAQ:AEIS) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 2.5% year on year to $415.4 million. Guidance for next quarter’s revenue was optimistic at $392 million at the midpoint, 2.3% above analysts’ estimates. Its non-GAAP profit of $1.30 per share was 18% above analysts’ consensus estimates.
Content delivery company Fastly (NYSE:FSLY) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 2% year on year to $140.6 million. Guidance for next quarter’s revenue was better than expected at $138 million at the midpoint, 0.8% above analysts’ estimates. Its non-GAAP loss of $0.03 per share was $0.03 below analysts’ consensus estimates.
Shares of Alibaba Group listed in the U.S. extended their rally into Wednesday after reports that the Chinese tech and e-commerce giant is partnering with Apple to create artificial intelligence features for Apple products in China.
Financial services company Robinhood (NASDAQ:HOOD) announced better-than-expected revenue in Q4 CY2024, with sales up 115% year on year to $1.01 billion. Its GAAP profit of $1.01 per share was significantly above analysts’ consensus estimates.
Advertising software maker The Trade Desk (NASDAQ:TTD) missed Wall Street’s revenue expectations in Q4 CY2024, but sales rose 22.3% year on year to $741 million. Next quarter’s revenue guidance of $575 million underwhelmed, coming in 1.2% below analysts’ estimates. Its non-GAAP profit of $0.59 per share was 3.6% above analysts’ consensus estimates.
Over two days of testimony this week before Congress, Federal Reserve Chairman Jerome Powell indicated there's no imminent end to the central bank's balance sheet wind down process, as some banks have moved to push back their own end date for a process commonly referred to as quantitative tightening. “I think we have a ways to go” on reducing the size of central bank bond holdings and there are no signs yet that market liquidity has shrunk enough to affect the Fed's reduction in holdings of Treasury and mortgage bonds, Powell told a House panel Wednesday. Powell's observations on quantitative tightening, or QT, comes as the Fed has shed just over $2 trillion from its holdings.
Bitcoin’s price swings have some questioning whether it's in a true bull market.
(Bloomberg) -- Oil fell after US President Donald Trump said he spoke with Russian President Vladimir Putin, sparking speculation that risks to crude supplies in the region may ease.Most Read from BloombergWhy American Mobility Ground to a HaltSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in MayCutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank SaysTrump said the leaders agreed to begin talks on ending the war in
Wall Street is reckoning with the possibility the Federal Reserve will stand down on rate cuts this year.
(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank must gain more insight on proposed policy changes on issues like trade and immigration before adjusting interest rates.Most Read from BloombergWhy American Mobility Ground to a HaltSaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterSpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in MayCutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says“My view is until we have more clar
