Oracle Says GPU Availability Not a Problem

/ / Technology /

Oracle has had no problems getting access to high-speed chips needed for new data centers. CEO Safra Catz says on a call with analysts that the company is “very good” in its graphic processing unit access and capability. Instead, the bottleneck in building data centers is physical infrastructure. Co-founder and CTO Larry Ellison says on the call that “the long pole in the tent is actually building the structure, connecting the electricity and connecting the communication links.” The software company has been trying to build new data centers at lightning speed to match surging AI-related demand.

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Amazon’s Australian Growth Poses Risk to Local Retailers

/ / Consumer Discretionary /

Amazon’s Australian business is growing faster than previously expected by Jarden analysts, who see growing risk for local electronics, home and garden, and general-merchandise retailers. Jarden’s analysts estimate that Amazon could take 18% of Australia’s non-food online sales in the country’s 2024 fiscal year, which runs through June. That’s up from 15% in fiscal 2023, they add. Australian shoppers are seen increasingly using Amazon as a first point of purchase, hitting local retailers’ sales and increasing pressure on them to invest in things like centralized fulfillment and regional distribution centers. They see JB Hi-Fi, Kogan.com, Wesfarmers and Myer as among those at risk.

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Oracle (NYSE:ORCL) Q3 2024 Earnings Conference

/ / Technology /

The following is a summary of the Oracle Corporation (ORCL) Q3 2024 Earnings Call Transcript: Financial Performance: Oracle reported Q3 revenue of $13.3 billion, a 7% increase, with EPS standing at $1.41. Cloud revenue grew by 26% reaching $4.4 billion. Cloud services and license support revenue reported at $10 billion, a rise of 11%. Gross margin for Cloud Services and License Support was at 77%, with non-GAAP operating income increasing by 12% at $5.8 billion. Free cash flow escalated by 68% to $12.3 billion. Short term deferred revenue balance stood at $8.9 billion, a 4% increase. Oracle repurchased 4 million shares totalling $450 million. Business Progress: Oracle Cloud Infrastructure (OCI) is becoming the central growth driver. The company has embedded AI capabilities throughout Fusion, Industry Cloud applications, and autonomous databases, widening their multi-cloud offerings. Increased investment in cloud infrastructure with expected CapEx between $7 billion to $7.5 billion for the

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Marvell Technology Fiscal Q4 Adjusted Earnings Flat While Sales Increase; Q1 Outlook Lags; Shares Drop Premarket

/ / Technology /

Marvell Technology’s (MRVL) shares were 5.7% lower in premarket Friday after dropping as much as 10% in late-hours trading on Thursday, following the company’s fiscal Q4 results that showed its Q1 earnings forecast missed estimates and the board expanded a share buyback program. The company reported fiscal Q4 adjusted earnings late Thursday of $0.46 per diluted share, unchanged from a year earlier. Analysts polled by Capital IQ estimated 0.46 per share. Revenue for the quarter ended Feb. 3 was $1.43 billion, up from $1.42 billion a year earlier. Analysts surveyed by Capital IQ forecast $1.42 billion. The chipmaker said it projects fiscal Q1 adjusted EPS of $0.18 to $0.28 on revenue of $1.15 billion, plus or minus 5%. Analysts polled by Capital IQ are looking for an adjusted EPS of $0.40 and revenue of $1.37 billion. Separately, Marvell said its board approved a $3 billion increase in its stock repurchase

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Costco Fiscal Q2 Earnings Increase But Sales Growth Misses Forecast; Shares Drop Premarket

/ / Consumer Discretionary /

Costco Wholesale (COST) shares dropped 4.6% in premarket activity Friday after the company’s fiscal Q2 results showed the increase in net sales lagged market expectations. The company reported fiscal Q2 earnings late Thursday of $3.92 per diluted share, up from $3.30 a year earlier. Analysts polled by Capital IQ expected $3.61. Net sales for the quarter were $58.44 billion, up from $55.27 billion a year earlier. Analysts surveyed by Capital IQ expected $59.13 billion.

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CFRA Maintains Strong Buy Opinion On Shares Of Marvell Technology, Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target price to $94 from $84 on a higher revised P/E of 34.8x our CY 25 EPS view, above peers but within five-year historical forward average. We adjust our FY 25 (Jan.) EPS view to $1.82 from $2.31 and FY 26 to $2.70 from $2.79. MRVL posts Jan-Q EPS of $0.46 vs. $0.46, matching the consensus. Although MRVL again provided disappointing guidance, we finally believe non data center markets are set to bottom in the Apr-Q at extremely depressed levels, with steeper seq. declines in carrier (-50%), enterprise networking (-40%), and consumer (-70%). All end-markets are poised to recover thereafter. AI-related revenue drove data center upside, up 54% (+38% seq.), and we think its pipeline offers upside given opportunities tied to its Optics

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CFRA Maintains Buy Opinion On Shares Of Broadcom Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We bump our 12-month target to $1,600 from $1,500 on a P/E of 28.1x our CY 25 EPS view, above historical given accelerating growth/exposure to software and AI revenue. We keep our FY 24 (Oct.) EPS at $49.16 and FY 25 at $56.90. AVGO posts Jan-Q EPS of $10.99 vs. $10.33, beating the $10.42 consensus. Sales rose 34% (+11% ex. VMware), with Infrastructure Software +153% and Semiconductor Solutions +4%. Software bookings tripled seq. to $1.8B (seen rising to $3B in Apr-Q), on success in upgrading customers to its higher value VMware Cloud Foundation offering. We think AI semi momentum remains strong (quadrupled Y/Y), driven by its Ethernet and customer silicon businesses (combined $10B in FY 24 at 70-30 split), and more than offsetting protracted enterprise and telco

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CFRA Maintains Hold Opinion On Shares Of Costco Wholesale Corporation

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $770, 44.5x our FY 25 (Aug.) EPS of $17.32 (cut from $17.45; FY 24 up to $16.04 from $15.93) vs. 37x five-year average forward P/E. F2Q EPS of $3.92 (+19% Y/Y) beat by $0.31, although there were a few below-the-line benefits related to the $6.7B special cash dividend (e.g., favorable tax rate; elevated interest income due to a higher cash balance). Comp sales (ex-fuel/FX) grew 5.8% Y/Y, a sequential acceleration from F1Q (+3.9%). Membership income grew 8% Y/Y. COST is seeing strength in some bigger-ticket discretionary categories (e.g., appliances, tires), a stark contrast to most other retailers, as COST is lowering prices on merchandise where commodity or freight costs have come down. Digital sales were up a solid 16%, with Costco

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