Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Takashi Mochizuki and Alice French look at the contrast between Nintendo’s business success and faltering share price. Tech Across the Globe Blackstone, KKR prepare for AI: The investment firms are in talks with Alphabet to give companies they own access to Google’s AI to...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Takashi Mochizuki and Alice French look at the contrast between Nintendo’s business success and faltering share price. Tech Across the Globe Blackstone, KKR prepare for AI: The investment firms are in talks with Alphabet to give companies they own access to Google’s AI tools. Read what spurred the discussions . Trillion-dollar club: Samsung became the second Asian company in history, after TSMC, to surpass $1 trillion in market value after another day of furious buying of memory chip stocks. It’s now worth roughly as much as Walmart . Apple’s AI equanimity: The iPhone maker will let users choose from a range of AI models to power features on its devices. This is how it fits with the company’s strategy . Revalued Enter, an AI legal startup based in São Paulo , tripled its valuation to $1.2 billion in a funding round that raised $100 million. The fundraising was led by Peter Thiel’s Founders Fund. Enter’s customers in Brazil include Airbnb and Latam Airlines. Danger abounds Since the launch of its Switch 2 in June, Nintendo has been on a hot streak of successful game releases, punctuated with popular theme park attractions and another winning cinema release last month. It should be riding high, yet its Tokyo-traded shares are on their worst run in a decade. The contradiction, and the debate in investor circles, centers on the price of the Switch 2 console itself. Many now believe that Nintendo simply must raise prices when it reports earnings this Friday, to guard against escalating costs and appease an anxious investor community. Others worry about the impact on demand, though that may be short-lived, unlike the share price pressure. Nintendo’s stock has retreated for five straight months, marking the longest sustained decline since 2016. Its path decoupled from the Nikkei 225 benchmark in September — when signs of the memory chip supply cru...
Trimble press release ( TRMB ): Q1 Non-GAAP EPS of $0.79 beats by $0.07 . Revenue of $939.9M (+11.8% Y/Y) beats by $34.33M . Annualized recurring revenue ("ARR") was $2.43 billion, up 12 percent year-over-year, up 12 percent on an organic basis GAAP operating income was $144.0 million, 15.3 percent of revenue, and non-GAAP operating income was $243.2 million, 25.9 percent of revenue GAAP net incom...
Trimble press release ( TRMB ): Q1 Non-GAAP EPS of $0.79 beats by $0.07 . Revenue of $939.9M (+11.8% Y/Y) beats by $34.33M . Annualized recurring revenue ("ARR") was $2.43 billion, up 12 percent year-over-year, up 12 percent on an organic basis GAAP operating income was $144.0 million, 15.3 percent of revenue, and non-GAAP operating income was $243.2 million, 25.9 percent of revenue GAAP net income was $98.9 million and non-GAAP net income was $186.9 million Diluted earnings per share ("EPS") was $0.42 on a GAAP basis and $0.79 on a non-GAAP basis Adjusted EBITDA was $257.7 million, 27.4 percent of revenue During the first quarter, Trimble repurchased approximately 4.7 million shares for $316.9 million For the full-year 2026, Trimble expects to report revenue between $3,835 million and $3,915 million (vs. consensus of $3.87B ), GAAP earnings per share of $2.05 to $2.21, and non-GAAP earnings per share of $3.47 to $3.64. (vs. consensus of $3.55 ) For the second quarter of 2026, Trimble expects to report revenue between $938 million and $963 million (vs. consensus of $ 945.97M ), GAAP earnings per share of $0.38 to $0.42, and non-GAAP earnings per share of $0.78 to $0.82. (vs. consensus of $0.80) More on Trimble Trimble: Finding Its Course To Fair Value Trimble Inc. (TRMB) Presents at 47th Annual Raymond James Institutional Investor Conference - Slideshow Trimble Inc. (TRMB) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript Trimble Q1 2026 Earnings Preview Trimble outlines $3.86B revenue and $3.52 EPS targets for 2026 amid accelerated AI integration and recurring revenue growth
Companies are selling new debt in Europe at the busiest pace ever on Wednesday, storming into the market after earnings to lock in funding while borrowing costs remain low. Sales include Airbus SE ’s first bond in nearly six years, beer giant Carlsberg Breweries A/S with debut hybrid debt and pharmaceutical company Novartis AG with a three-part deal. Both investment-grade and junk-rated firms are ...
Companies are selling new debt in Europe at the busiest pace ever on Wednesday, storming into the market after earnings to lock in funding while borrowing costs remain low. Sales include Airbus SE ’s first bond in nearly six years, beer giant Carlsberg Breweries A/S with debut hybrid debt and pharmaceutical company Novartis AG with a three-part deal. Both investment-grade and junk-rated firms are joining the rush, and in total 17 borrowers are offering 24 tranches — each a record, according to data compiled by Bloomberg. “Credit spreads remain near historic tights given the rate environment,” said James Cunniffe , HSBC Holdings Plc’s head of corporate and structured debt capital markets syndicate for Europe. “Investors are well positioned to take down anticipated supply, with May being one of the busiest months of the year.” The flurry of sales during a traditionally active month comes on a day when global bonds are rallying and gauges of credit risk are sliding on optimism that the US and Iran are nearing a peace deal. The iTraxx Europe index of investment grade credit default swaps has fallen to the lowest since April 17, while the equivalent index for junk-rated firms is at a near two-month low. By tapping a buoyant market after quarterly earnings, firms will be able to shore up balance sheets and lock in new debt to tackle maturities coming due. Overall, including financial firms and sovereign players as well as companies, a total 34 borrowers are in the primary market with 43 tranches of new bonds on offer, also the most on record, the data compiled by Bloomberg shows. Limited Window Investor demand is strong enough to encourage a wide range of junk-rated issuers — including chemicals firm Ineos , housing company DomusVi and telecoms provider Telekom Srbija — to take part in the rush for deals. Selling now avoids the risk that credit’s rally could potentially evaporate if the war drags on, given consumers would start to feel the fallout from higher prices and r...
Kraft Heinz press release ( KHC ): Q1 Non-GAAP EPS of $0.58 beats by $0.08 . Revenue of $6.05B (+0.8% Y/Y) beats by $170M . For fiscal year 2026, the Company is reaffirming its outlook. The Company continues to expect: Organic Net Sales down 1.5 percent to down 3.5 percent versus the prior year. This includes an approximate 100 basis point impact from incremental SNAP headwinds. Adjusted EPS in th...
Kraft Heinz press release ( KHC ): Q1 Non-GAAP EPS of $0.58 beats by $0.08 . Revenue of $6.05B (+0.8% Y/Y) beats by $170M . For fiscal year 2026, the Company is reaffirming its outlook. The Company continues to expect: Organic Net Sales down 1.5 percent to down 3.5 percent versus the prior year. This includes an approximate 100 basis point impact from incremental SNAP headwinds. Adjusted EPS in the range of $1.98 to $2.10 vs $2.04 consensus. The Company now expects an effective tax rate on Adjusted EPS to be approximately 25 percent. Additionally, the Company now expects interest expense to be approximately $920 million and other expense/(income) to be approximately $200 million of income for the full year. Shares +2.8% PM. More on Kraft Heinz Kraft Heinz: No Growth, Consumer Headwinds, And Depleting Margins Kraft Heinz: It Only Needs To Get Less Bad Kraft Heinz Vs. Mondelez: Same Roots, Diverging Trajectories Kraft Heinz Q1 preview: What to expect ahead of earnings Reading the tea leaves on Berkshire's view on Kraft Heinz
(Bloomberg) -- This earnings season has delivered plenty of good news for the artificial intelligence trade, but instead of bidding up Nvidia Corp. shares, investors have been dumping them.Most Read from BloombergUS Has Opened a Passage Through Hormuz, Central Command SaysUS Says Offensive Phase of Iran War Over as Ship Hit in StraitAnthropic Unveils AI Agents to Field Financial Services TasksTrum...
(Bloomberg) -- This earnings season has delivered plenty of good news for the artificial intelligence trade, but instead of bidding up Nvidia Corp. shares, investors have been dumping them.Most Read from BloombergUS Has Opened a Passage Through Hormuz, Central Command SaysUS Says Offensive Phase of Iran War Over as Ship Hit in StraitAnthropic Unveils AI Agents to Field Financial Services TasksTrump Pauses Plan to Guide Ships While Seeking Iran DealWhite House Weighs AI Working Group, Model Testi
Steven Madden press release ( SHOO ): Q1 Non-GAAP EPS of $0.45 beats by $0.08 . Revenue of $653.1M (+18.0% Y/Y) beats by $3.06M . Updated Fiscal 2026 Outlook The Company is raising its fiscal 2026 revenue guidance and introducing fiscal 2026 diluted earnings per share guidance. The Company now expects fiscal 2026 revenue will increase 10% to 12% compared to fiscal 2025 (prior increase 9% to 11%) v...
Steven Madden press release ( SHOO ): Q1 Non-GAAP EPS of $0.45 beats by $0.08 . Revenue of $653.1M (+18.0% Y/Y) beats by $3.06M . Updated Fiscal 2026 Outlook The Company is raising its fiscal 2026 revenue guidance and introducing fiscal 2026 diluted earnings per share guidance. The Company now expects fiscal 2026 revenue will increase 10% to 12% compared to fiscal 2025 (prior increase 9% to 11%) vs. estimated growth of 11.24%Y/Y . The Company expects fiscal 2026 diluted EPS will be in the range of $2.55 to $2.65. The Company expects Adjusted diluted EPS will be in the range of $2.00 to $2.10 vs. $2.11 consensus . More on Steven Madden Steven Madden Wants To Return To Organic Growth, And Pricing Remains Aggressive Steven Madden, Ltd. (SHOO) Q4 2025 Earnings Call Transcript Steven Madden Q1 2026 Earnings Preview Steven Madden faces weak Q1, but guidance could blunt share pressure—Citi Research Seeking Alpha’s Quant Rating on Steven Madden
ronniechua/iStock via Getty Images Oil prices continued to slide on Wednesday, dropping to their lowest levels in about two weeks after a report indicated the United States may be nearing a preliminary agreement with Iran aimed at ending the conflict. Brent crude ( CO1:COM ) was down 6.1% to $103.16 a barrel, after earlier touching its weakest level in nearly two weeks. U.S. West Texas Intermediat...
ronniechua/iStock via Getty Images Oil prices continued to slide on Wednesday, dropping to their lowest levels in about two weeks after a report indicated the United States may be nearing a preliminary agreement with Iran aimed at ending the conflict. Brent crude ( CO1:COM ) was down 6.1% to $103.16 a barrel, after earlier touching its weakest level in nearly two weeks. U.S. West Texas Intermediate ( CL1:COM ) fell 6.6% to $95.49. Both benchmarks were headed for their steepest single-day declines, in both percentage and dollar terms, since mid-April. The losses follow a roughly 4% drop in the prior session. According to Axios, U.S. officials expect feedback from Iran within the next 48 hours on several outstanding issues tied to a potential framework agreement. While no deal has been finalized, the report said negotiations appear closer to a breakthrough than at any point since hostilities began. Iran has previously said it would only agree to terms it considers fair and comprehensive. Geopolitical developments in the Strait of Hormuz have played a central role in recent price swings. The U.S. military said earlier this week it had destroyed several Iranian vessels while assisting ships attempting to leave the waterway, a critical chokepoint for global oil shipments. Disruptions to maritime traffic since the conflict began in February have constrained supply, helping drive Brent prices to their highest level since March 2022 last week. The limited flow through the strait has also contributed to declining global fuel inventories, as refiners draw down stockpiles to offset reduced production. In the United States, crude inventories fell for a third consecutive week, according to market sources citing data from the American Petroleum Institute. Stockpiles dropped by 8.1 million barrels in the week ended May 1. Gasoline inventories declined by 6.1 million barrels, while distillate supplies fell by 4.6 million barrels. Official inventory figures from the Energy Informati...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Good morning! Here's the latest in trending: Project Freedom: Trump pauses the U.S. effort to help ships exit the Strait of Hormuz to see if a deal can be reached with Iran . Stellar results: AMD ( AMD ) soars as strong AI infrastructure demand pushes earning...
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Spotify . Getty Images Good morning! Here's the latest in trending: Project Freedom: Trump pauses the U.S. effort to help ships exit the Strait of Hormuz to see if a deal can be reached with Iran . Stellar results: AMD ( AMD ) soars as strong AI infrastructure demand pushes earnings and guidance above Street forecasts . AI updates: Anthropic ( ANTHRO ) unveils 10 AI agents for financial services , and inks a $200B pact with Google ( GOOGL ). AI chip rally South Korea's benchmark stock index has crossed the 7,000-point mark for the first time ever, led by chip giant Samsung Electronics ( SSNLF ). Investor sentiment was lifted by the global AI-driven chip rally a day ago and strong economic data released on Monday. Record high: The KOSPI index closed 6.5% higher at 7,384.56 on Wednesday, paring some gains after reaching a record intraday high of 7,426.60. The index's top gainers were Samsung, whose Seoul-listed shares rose over 14% , and Nvidia supplier SK hynix, which gained about 11% . Samsung's market cap also surpassed $1T, making it the second Asian company to join the trillion-dollar club after Taiwan Semiconductor ( TSM ). KOSPI's latest rally added to Monday's gains, which were fueled by strong manufacturing activity and exports due to AI-driven chip demand. The stock market was closed on Tuesday. The index gained 71% YTD, and is up about 187% over the past year. To note, KOSPI rose 76% in 2025, which was its best annual performance since 1999. Bigger picture: "If the demand for AI chips continues at this level, KOSPI could reach 10,000 points by the end of this year," Seo Sang-young, analyst at Mirae Asset Securities, told Reuters . "But if the demand collapses with worries over inflation and weak growth due to the Iran war, it could plummet to as low as 4,500." Inflation in South Korea accelerated in April , but government measures like fo...