heard on the street – Page 3

OpenAI Glitch Shows Weaknesses in Microsoft’s AI Armor

20Nov

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Money

OpenAI Glitch Shows Weaknesses in Microsoft’s AI Armor

Microsoft may have put out a five-alarm fire around its most important technology move in years. But fires leave scorch marks—and sometimes flare up again. A leadership crisis at Silicon Valley startup OpenAI over the weekend threatened to seriously singe the world’s second-largest company by market value. That is because OpenAI developed the key generative artificial-intelligence technology that has helped power Microsoft’s aggressive move into the field. Microsoft has invested a total of $13 billion into the company and already launched commercial products and services based on its technology, including a chatbot-enabled Bing search engine and a superpowered digital assistant called Copilot that can render emails, spreadsheets and PowerPoint presentations. Copyright ©2023 Dow Jones &...

20Nov

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World

OpenAI Glitch Shows Weaknesses in Microsoft’s AI Armor

Microsoft may have put out a five-alarm fire around its most important technology move in years. But fires leave scorch marks—and sometimes flare up again. A leadership crisis at Silicon Valley startup OpenAI over the weekend threatened to seriously singe the world’s second-largest company by market value. That is because OpenAI developed the key generative artificial-intelligence technology that has helped power Microsoft’s aggressive move into the field. Microsoft has invested a total of $13 billion into the company and already launched commercial products and services based on its technology, including a chatbot-enabled Bing search engine and a superpowered digital assistant called Copilot that can render emails, spreadsheets and PowerPoint presentations. Copyright ©2023 Dow Jones &...

10Nov

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Money

Coach Saves Tapestry From Unraveling

Luxury demand isn’t quite what it used to be. Neither is demand for accessible luxury, but it seems strong enough that brands like Coach are still able to push through price hikes.Coach owner Tapestry, which also owns Kate Spade and Stuart Weitzman, reported revenue growth of 0.4% in its quarter ended Sept. 30, weaker than Wall Street expectations of 2% growth. This follows worse-than-expected sales performance at European luxury powerhouses such as Gucci owner Kering and Louis Vuitton owner LVMH. But Tapestry’s adjusted earnings of $0.93 a share was higher than expectations of $0.90.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Buy Now, Pay Later Lender Is Surfing the Private Credit Wave

9Nov

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Money

Buy Now, Pay Later Lender Is Surfing the Private Credit Wave

Higher interest rates were supposed to put an end to the fast growth of buy now, pay later lenders. But right now they might actually be helping out.Unlike banks that fund their loans through their deposits, BNPL players that offer small loans and installments to shoppers need to get that money from the market, as do other nonbank financial-technology companies. So they are, in theory, more exposed to the cost of rising interest rates. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Warner Gets Too Real About Advertising Meltdown

9Nov

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Money

Warner Gets Too Real About Advertising Meltdown

Even “Barbie” can only glam up her maker so much these days. Warner Bros. Discovery got a boost from the year’s biggest box-office hit during the third quarter. Its studio revenue grew 4% year over year, which is its first such gain in more than a year. But that was offset by continued weakness in advertising, which fell 12% year over year to just under $1.8 billion—a record low for the combined company’s reported results that go back to the beginning of 2021. Warner also lost about 1.4 million domestic subscribers to its streaming services that included the recently rebranded Max; analysts had been expecting a drop of only about 200,000 subscribers. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

8Nov

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Money

Robinhood No Longer Looks Like a Steal

Robinhood Markets may be building the brokerage of the future—and maybe it always will be.Shares of the online brokerage are down nearly 15% after its third-quarter earnings report on Tuesday. One big factor: The revenue momentum from higher interest rates is petering out. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

3Nov

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Money

The Improbably Strong Economy – WSJ

The economy is still generating jobs. A year ago, a lot of economists and Federal Reserve policy makers thought that it would be shedding them by now.On Friday, the Labor Department reported that the U.S. added a seasonally 150,000 jobs in October from the previous month, versus September’s gain of 297,000 jobs. Some of that step down was due to auto workers’ strikes, which have since been resolved but temporarily caused workers to not draw paychecks. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Never Mind Covid, Investors Want a Pfizer Obesity Pill

31Oct

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Money

Never Mind Covid, Investors Want a Pfizer Obesity Pill

Some of this year’s best performers in the healthcare sector are companies expected to profit from the anti-obesity drug craze, with Eli Lilly and Novo Nordisk shares both up more than 40% each. Much of the rest of the industry is underwater, with some of the biggest decliners being pandemic winners such as Pfizer and Moderna.It is little wonder, then, that investors were hoping Pfizer could jump to the winning camp with an obesity pill. But the company’s silence on its experimental oral medication, danuglipron, during its earnings release Tuesday, is worrying Wall Street. “Not one mention [of danuglipron] in the prepared remarks from Pfizer,” noted Will Sevush, a healthcare strategist for Jefferies. Before today’s earnings, David Risinger, a Leerink Partners analyst, had written that Pfi...

31Oct

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Money

The Fed Can Wait

Cooling inflation gives the Federal Reserve a reason not to raise rates, but a strong economy doesn’t justify starting to sound dovish.

29Oct

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Money

Music Stocks Adjust to a Slower Tempo

Oct. 29, 2023 10:00 am ETThe music industry is humming along nicely. That won’t make the hangover from rock-bottom interest rates any easier for some music stocks.Shareholders at Hipgnosis, a London-listed song catalog fund that owns rights to tracks by Shakira, the Red Hot Chili Peppers and others, voted against giving the fund another five-year mandate at the company’s annual general meeting on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8