Shares of Deere & Co. DE dropped 3.1% toward a two-month low in premarket trading Thursday, after the agricultural, construction and turf equipment maker reported fiscal first-quarter earnings that were well above expectations but provided a downbeat full-year outlook, with industry and segment sales expected to keep falling. Net income for the quarter to Jan. 28 declined to $1.75 billion, or $6.23 a share, from $1.96 billion, or $6.55 a share, in the year-ago period. The FactSet consensus for earnings per ...

Tiger Global has slashed its positions in four of the five Magnificent Seven tech stocks that account for almost half of its portfolio, while upping its stake in Amazon.com and piling into semiconductor companies, regulatory filings for the final three months of 2023 show. The New York hedge fund cut its stakes in Magnificent Seven tech firms Alphabet GOOG, Meta META, Microsoft MSFT and Nvidia NVDA, while upping its position in just one of the top-performing technology companies, Amazon.com AMZN, the money ...

Cisco Systems Inc. gave some more details on the timing of revenue from its anticipated orders related to artificial intelligence, and it looks like the networking giant is going to be a late bloomer in AI. On Wednesday, Cisco CSCO repeated comments from last quarter about a line of sight into $1 billion of orders related to products for building AI infrastructure for fiscal 2025. Cisco Chief Financial Officer Scott Herren told analysts on the company’s earnings call that he expects “the majority of that bi ...

Investors were getting a peek Wednesday at where fund managers have made their recent bets, as those managers released the required quarterly reports on their holdings. But Wednesday also brought a look at investments made by some public companies, including chip powerhouse Nvidia Corp. NVDA, which joined those money managers in filing a 13-F after the closing bell. That’s... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. An ...

Northern California’s Bay Area Air Quality Management District on Tuesday said it had reached separate agreements with Chevron and PBF Energy that will settle legal challenges the refiners brought against the agency’s regulations. BAAQMD described the agreements as a “decisive victory” for public health, saying they will result in significant reductions in airborne particulate matter emissions. The... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from ...

Duquesne Family Office, the investment vehicle belonging to famed macro investor Stanley Druckenmiller, dumped shares of Alphabet Inc., Amazon.com AMZN and Broadcom Inc. AVGO while scooping up shares of beaten-down gold miners Barrick Gold Corp. GOLD and Newmont Corp. NEM, according to a Wednesday filing with the Securities and Exchange Commission. The filing showed that the family office also bought shares of Adobe Inc. ADBE and Arista Networks ANET, two companies that have benefited from the artificial-i ...

David Tepper’s Appaloosa hedge fund took new stakes in Oracle Corp. and General Motors Co., to name a few, and increased its holdings in Alibaba Group and Microsoft Corp., among other moves, according to a filing with the Securities and Exchange Commission late Wednesday. Appaloosa increased its stake in Alibaba BABA by about 20%, ending the December quarter with 4.35 million shares, and increased its Microsoft MSFT holdings by about 4%, with 1.7 million shares. It also slightly increased its Amazon.com Inc ...

Cisco Systems Inc. announced a restructuring plan on Wednesday that includes job cuts of 5%, or about 4,200 people, on lower quarterly and fiscal-year guidance. “We continue to align our investments to future growth opportunities,” Cisco Chief Executive Chuck Robbins said in a statement announcing the results. Cisco CSCO reported fiscal second-quarter... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subscribe Now ...

Michael Burry’s Scion Asset Management scooped up shares of Alphabet Inc. GOOGL and Amazon.com Inc. AMZN during the fourth quarter of 2023, part of a shopping spree that saw his fund open positions in more than a dozen stocks. After drawing attention last year for holding bearish puts against the S&P 500, the Nasdaq-100 and a basket of semiconductor stocks, Burry apparently sold the last of these puts and instead added more long positions to his portfolio in the fourth quarter. The value investor expanded ...

Morgan Stanley is cutting hundreds of wealth-management positions, including some managing directors, in one of new Chief Executive Ted Pick’s first major moves since taking over six weeks ago, according to a source familiar with the bank. The layoffs mark an effort by Morgan Stanley MS to contain costs. They will impact less than 1% of the roughly 40,000 employees in the marquee investment bank’s wealth-management unit but won’t include key client-facing staff, the source said. Morgan Stanley will begin to ...