Latest news with #TNBTechMinute
Wall Street Journal
01-08-2025
- Business
- Wall Street Journal
TNB Tech Minute: Musk Tells Tesla Investors to Focus on a Future Filled With Robots - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Zoe Kuhlkin: Here's your afternoon TNB Tech Minute for Thursday, July 24th. I'm Zoe Kuhlkin for the Wall Street Journal. Tesla chief executive Elon Musk told investors that the company is in transition, moving away from electric vehicles and instead focusing on robotaxis and robots. Musk encouraged investors to look past Tesla's poor financials and concentrate on its recent achievements with autonomous vehicles. Investors appear less convinced. Tesla shares slid 9.4% after the company reported second-quarter profits were down 16%, and revenue down 12%. Elsewhere, Honeywell International reported higher-than-expected second-quarter results, pushing the company to increase its outlook for the year. The industrial conglomerate posted a profit of $1.57 billion, up from $1.54 billion the year prior. Sales jumped 8% to $10.35 billion, beating analysts' expectations of $10.06 billion. On an organic basis, sales were up 5% from last year. The company, which makes everything from pharmaceutical packaging to aircraft landing gear, plans to move ahead with separation plans they announced in February. And finally, an update on a story you heard on TNB earlier this year. An Arizona woman, Christina Chapman, was sentenced to eight-and-a-half years in prison today for operating a so-called laptop farm, a room in her house with racks of computers that North Korean scammers used to connect remotely to over 300 US companies over the span of two years. Chapman would take a cut of all the scammers' paychecks and deposit the rest into a bank account accessed by the North Korean government. It used proceeds to fund the country's weapons program, prosecutors said. Among the hundreds of companies infiltrated was Nike, according to the court filings. Chapman's lawyer didn't respond to our request for comment. That's a wrap on your TNB Tech Minute. For a deeper dive into what's happening in tech, check out our Tech News Briefing podcast on Tuesdays and Fridays.
Wall Street Journal
29-07-2025
- Business
- Wall Street Journal
TNB Tech Minute: PayPal Raises Full-Year Guidance After Gains From Active Accounts and Venmo - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Ariana Aspuru: Here's your afternoon TNB Tech Minute for Tuesday, July 29th. I'm Ariana Aspuru for The Wall Street Journal. PayPal has raised its full-year guidance after a strong second quarter. This comes after total payment volumes jumped 6% in the second quarter to more than $443 billion. Active accounts increased 2% to 438 million. PayPal is focusing on profitable growth through its branded checkout options, unbranded processing business, and branded offline checkouts from its PayPal and Venmo credit and debit cards. Venmo's revenue alone was up 20%. Plus we have a pair of exclusive stories. Palo Alto Networks is in talks to acquire CyberArk Security Software, an Israeli cybersecurity provider. This would mark one of the biggest technology takeovers so far this year according to people familiar with the matter. The deal could be finalized later this week and could value CyberArk well above its $20 billion market value. Today, Palo Alto Networks has a market value of almost $140 billion, with its share price up roughly 14% year to date. Finally, JP Morgan Chase is nearing a deal to take over Apple's credit card program. This would potentially replace Goldman Sachs as Apple's card partner according to people familiar with the matter. We previously reported that JPMorgan and Apple have been negotiating since early last year. Still, the deal hasn't been signed and there are chances that talks could unravel because of a number of challenges associated with the Apple program. And that's a wrap on your TNB Tech Minutes. For a deeper dive into what's happening in tech, check out our Tech News Briefing podcast on Tuesdays and Fridays.
Wall Street Journal
02-05-2025
- Business
- Wall Street Journal
TNB Tech Minute: Temu Stops Shipping to U.S. - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Friday, May 2nd. I'm Victoria Craig for the Wall Street Journal. Chinese bargain site Temu says it's no longer shipping products directly to customers in the US, a dramatic shift in its business model. It comes as the US ended its longstanding de minimus provision today, that was a trade exemption that let overseas packages valued at $800 or less arrive duty free. A spokesperson from Temu said the shipping changes are, quote, part of Temu's ongoing adjustments to improve service levels. Staying with China, the country's popular social video app, TikTok has been fined $600 million by Ireland's privacy watchdog. It said the company failed to guarantee user data sent to China was protected from government surveillance under Chinese laws governing espionage and cybersecurity. That is a blow to TikTok's efforts to convince Western countries, including the US, that the app is safe to use. The company vowed to appeal the fine and said the decision covers a period of time before it put new protections in place. It also denied that it turns user data over to the Chinese government and it said it hasn't received requests for it to do so. And finally, the maker of Grand Theft Auto issued an apology for delaying the release of the game's next installment, but investors aren't accepting it. Shares of Take-Two Interactive fell 6.7% today after the company's Rockstar Entertainment subsidiary confirmed its hotly anticipated Grand Theft Auto VI will now drop a year from now rather than this fall. One analyst said the delay is consistent with the company's track record of putting product quality over hitting deadlines. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast.
Wall Street Journal
01-05-2025
- Business
- Wall Street Journal
TNB Tech Minute: Apple, Amazon Beat Sales Forecasts - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Thursday, May 1st. I'm Victoria Craig for the Wall Street Journal. After the bell this afternoon, Apple said sales last quarter jumped 5% to $95 billion as demand surged due to uncertainty around President Trump's tariff policy and the release of the lower-end iPhone 16e model. Apple also said a majority of its devices shipped into the U.S. in the June quarter will originate in India and Vietnam. It's a move to allay investor concerns about how tariffs would crimp the company's profits. The results come a day after a federal judge threw the book at Apple for "willfully choosing not to comply with a 2021 court ruling". It required the company to allow users to use alternative payment methods for services and subscriptions outside the App Store. The judge also took the unusual step of referring the matter to federal prosecutors for a criminal contempt investigation. An Apple spokeswoman said the company would comply with the order, but that it disagrees with the decision and will appeal. Also on the earnings front, Amazon reported strong results that were not affected by new U.S. tariffs on Chinese imports, but the company did add tariffs and trade policies to the list of factors that subject its forward-looking statements to substantial uncertainty. The E-commerce giant said revenue jumped 9% last quarter, and that it booked a profit of $17.1 billion. Both results topped Wall Street expectations. Meanwhile, Amazon this week also said it plans to put $4 billion toward expanding its delivery network in small American towns. The company estimates 100,000 new jobs will come as a result. By next year, Amazon expects the size of that network to triple, which it says will cut delivery times for rural customers in half. Finally, the Journal's exclusive reporting reveals that about a month ago, Tesla's board got serious about looking for a successor for founder and CEO Elon Musk. People familiar with the discussion said board members reached out to several executive search firms to work on a process for finding the company's next leader. It came amid a steep fall in Tesla's shares since Musk turned his focus to DOGE and embarked on a cost-cutting spree for the Trump administration. Last week after the company said its quarterly profit plunged more than 70%, Musk told investors he'd pivot his focus back to Tesla. Following publication of our story, Tesla issued a denial and said the board is "highly confident" in Elon Musk and his "ability to continue executing on the exciting growth plan ahead". For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
Wall Street Journal
30-04-2025
- Business
- Wall Street Journal
TNB Tech Minute: Meta, Microsoft Post Strong Revenue Growth - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Speaker 1: Here's your TNB Tech Minute for Wednesday, April 30th. I'm Victoria Craig for the Wall Street Journal. After the closing bell on Wall Street, Microsoft said it registered 13% revenue growth last quarter with all of its main business units beating expectations. Profit meanwhile rose nearly 18% from a year earlier. The results sent shares solidly higher in after-hours trading. CEO, Satya Nadella, said Microsoft's results were boosted by continued demand for AI and cloud computing. Check out tomorrow's Tech News Briefing podcast where we'll take a deeper look at Microsoft's push to grow its cloud business in Europe and the geopolitical tensions that could threaten it. Also on the earnings front, Meta notched a 16% jump in sales last quarter, beating Wall Street forecasts. It said it expects revenue growth would remain steady in the current quarter, quashing worries that the Trump administration's latest tariffs will dent the company's global ad business. Meta relies on that advertising revenue to fund a plan for up to $65 billion in AI ambitions as it tries to take on giants in the space like OpenAI's ChatGPT. Earlier today, Meta rolled out a standalone app for its Meta AI chatbot, which it hopes will clock 1 billion users by the end of the year. And finally, Chinese e-commerce giant, Alibaba, rolled out a rapid delivery option to its shopping platform today. Customers can buy a range of things like food, apparel and footwear under a new Instant Commerce tab, and get their goods in less than an hour. A person familiar with the matter told The Journal the option is expected to roll out across China next week. The feature is seen as Alibaba's latest attempt to set up its super fast delivery options as it faces stiff competition from rivals like For a deeper dive into what's happening in tech, check out Thursday's Tech News Briefing podcast.
