Measurement equipment distributor Transcat (NASDAQ:TRNS) missed Wall Street’s revenue expectations in Q4 CY2024 as sales rose 2.4% year on year to $66.75 million. Its non-GAAP profit of $0.45 per share was 10% below analysts’ consensus estimates.
AI-exposed power stocks tumbled alongside a tech sell-off as Chinese startup DeepSeek sparked investor concerns over AI chip spending by US companies.
Intel is expected to report fourth-quarter results after the market closes Thursday, with analysts expecting the chipmaker to swing to a loss.
Nvidia (NVDA) addressed its tumbling stock on Monday by saying Chinese artificial intelligence startup DeepSeek will need more of its chips for new models.
Liang Wenfeng started DeepSeek in 2023, aiming to develop artificial general intelligence.
(Bloomberg) -- The tech-led rout that gripped US equity markets on Monday left one corner of the market relatively unscathed: the Dow Jones Industrial Average.Most Read from BloombergWhat Happened to Hanging Out on the Street?Vienna Embraces Heat Pumps to Ditch Russian GasTexas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Billionaire Developer Caruso Slams LA Leadership Over WildfiresBuoyed by rallies of at least 2.8
Shares of Apple charged higher on Monday, bucking the trend as its large-cap tech peers tumbled on concerns about overspending on AI.
There's plenty of red to be found on traders' screens today, with the S&P 500 and the more tech-focused Nasdaq Composite dropping sharply. The Dow, on the other hand, is holding up.
The shocking success of a new model from a mysterious Chinese lab has America questioning its leadership of the sector.
Shares of HVAC company Trane (NYSE:TT) fell 8.6% in the afternoon session as stocks heavily tied to the AI market took a hit after Chinese artificial intelligence startup DeepSeek released a new large language model that ranks competitively on key global benchmarks, uses less advanced semiconductor chips, costs significantly less to build, and has already achieved strong adoption after topping the iPhone Play Store for AI apps. TT in particular supplies HVAC (heating, ventilation, air conditioni