Fourth-quarter earnings season in Europe is still in its early days, but the largest companies on the Continent are mostly hitting their stride. Novo Nordisk NVO, -1.80%, the maker of wildly popular weight-loss drugs, on Wednesday beat estimates and gave an outlook that suggested analysts will have to hike their outlooks further. LVMH Moet Hennessy MC, -0.48%, the luxury giant, reported faster-than-expected sales growth and surprising cost control. ASML Holding ASML, +0.01%, the maker of microchip-making ...

A wave of strong earnings from big tech players proves once again beating the quarter is only as good as your guidance — or lack of it.Intel INTC, -1.75% beat expectations in its most recent earnings report, but provided guidance that was well-short of expectations. The stock sold off as investors tried to understand why the guidance was so soft. With all the hype over artificial intelligence and improvement in operations at Intel, why wasn’t the company’s result more robust, and the guidance more optimisti ...

There’s a common belief that “overbought” is a technical condition for a stock, but in practice it seems to be more of an ability.Meta Platforms Inc.’s stock META, +20.32% soared so much Friday after a blowout earnings report, that some technical readings have reached levels not seen in 11 years.The stock rocketed 20.9% to close at a record $474.99, to book the third-biggest gain since going public in May 2012. The only bigger rallies were 23.3% on Feb. 2, 2023 and 29.6% on July 25, 2013, which were also af ...

Two members of the management committee at Goldman Sachs Group Inc. have departed the company as the bank reshuffles the roles of its most powerful senior executives, the Wall Street Journal reported on Friday.Under Chief Executive David Solomon and President John E. Waldron, the bank is mulling the launch of two new committees to help run the lucrative markets unit and investment-banking division at Goldman Sachs GS, +1.04%, the report said.George Lee and Alison J. Mass have both left the management commit ...

Google parent company Alphabet this week reported a $1.2 billion charge in the fourth quarter to exit office space, a notable cost that largely flew under under the radar in a hectic week, according to a Barclays researcher.The search-engine giant GOOG, +0.58% GOOGL, +0.86% on Tuesday said the new charge stems from an effort to optimize its office space globally, which in 2023 resulted in a total of $1.8 billion in related costs as the company worked through announced staff cuts.While many corporations have ...

Earnings season is set to cause a reshuffling among the ranks of the largest U.S. companies. Amazon.com Inc. AMZN, +7.94% is poised to overtake Alphabet Inc. GOOG, +0.35% GOOGL, +0.43% 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. The race is tight, however, with Amazon recently having a $1.78 trillion valuation based on intraday action and Alphabet having a $1.77 trillion market ca ...

Nvidia Corp. is the “clear beneficiary” of Meta Platforms Inc.’s rampant spending on artificial intelligence, according to an analyst. The Facebook parent company now expects to spend $30 billion to $37 billion on capital expenditures this year, whereas it was projecting $30 billion to $35 billion previously. The new “outlook reflects our evolving understanding of our AI capacity demands as we anticipate what we may need for the next generations of foundational research and product development,” Chief F ...

A billionaire China banker who had apparently gone missing for a year, has resurfaced, sort of. China Renaissance Holdings said in a statement on Friday that Bao Fan, who dropped out of sight over a year ago, had resigned as executive director and chief executive officer, along with other company positions. Acting CEO Xie Yi Jing took up the post as CEO, with others assuming varying roles that Bao had played.The company said Bao was stepping down for “health reasons” and to “spend more time on his family af ...

Apple Inc. executives have long maintained that the don’t talk about forthcoming offerings before they’re ready, and they mentioned that view again Thursday afternoon. “Our M.O., if you will, has always been to do work and then talk about work and not to get out in front of ourselves,” Chief Executive Tim Cook said on the company’s earnings call. Apple AAPL, +1.33% was going to “hold that” standard to the topic of generative AI as well, he added, in response to an analyst’s question on the company’s AI plan ...

“For the very first time there’s a whole new computer market that is going to be in every single country”This is what Nvidia CEO Jensen Huang said about the way the race for technological sovereignty is set to boost Nvidia by driving the growth of the global tech sector in countries outside of the U.S.  Huang said a global push for technological sovereignty will lead to the growth of entirely new markets, as countries worldwide seek to build up their own tech industries to ensure they are able to make use o ...