Dell earnings jump on demand for remote work technology



Michael Dell standing in front of a mirror posing for the camera: Dell Technologies was founded by Michael Dell gin 1984. It is now one of the largest private employers in the Austin metro area. [AMERICAN-STATESMAN FILE]


© Provided by Austin American-Statesman
Dell Technologies was founded by Michael Dell gin 1984. It is now one of the largest private employers in the Austin metro area. [AMERICAN-STATESMAN FILE]

Driven by demand for desktop and notebook computers as the coronavirus pandemic forces more people to work from home, Dell Technologies saw its revenue and profit soar past Wall Street’s expectations in its fiscal third quarter, the company said Tuesday

Revenue for the quarter ended Oct. 30 was $23.5 billion, a 3% year over year increase, the company reported, beating analysts’ expectations of $21.9 billion.

The Round Rock-based technology giant has net income of $17 billion, or $1.08 per share. Dell said its adjusted earnings were $2.03 per share, well above Wall Street analysts’ forecasts for $1.42 per share.

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Dell Technologies shares closed Tuesday up 1.3% at $70.33, and edged up less than 1% in after-hours trading following

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Dell earnings jump on demand for remote work technology – Business – Austin American-Statesman

Driven by demand for desktop and notebook computers as the coronavirus pandemic forces more people to work from home, Dell Technologies saw its revenue and profit soar past Wall Street’s expectations in its fiscal third quarter, the company said Tuesday

Revenue for the quarter ended Oct. 30 was $23.5 billion, a 3% year over year increase, the company reported, beating analysts’ expectations of $21.9 billion.

The Round Rock-based technology giant has net income of $17 billion, or $1.08 per share. Dell said its adjusted earnings were $2.03 per share, well above Wall Street analysts’ forecasts for $1.42 per share.

Dell Technologies shares closed Tuesday up 1.3% at $70.33, and edged up less than 1% in after-hours trading following its earnings report.

In a call with investors, Dell Technologies chief operating officer Jeff Clarke said despite the pandemic, the company has been able to grow, innovate and deliver for its customers.

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Tech Startups Drive 100% Jump in IPOs on Tel Aviv Stock Exchange

(Bloomberg) — Israeli startups are taking the Tel Aviv Stock Exchange by storm this year, pushing initial public offerings to a three-year high and marking a shift away from homegrown technology companies opting to list abroad.

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Through October, 14 companies had conducted IPOs worth $650 million in Tel Aviv this year, with eight of those tech or innovation-focused startups, according to data from the exchange. That’s already double the total number of listings in 2019 and the most since 2017, with more tech offerings in the pipeline.

“We’re considered all over the world as a startup nation, but essentially the Israeli exchange didn’t participate in the new economy and high tech, and 2020 is the year of the breakthrough,” said Hani Shitrit Bach, the TASE’s head of listings.

Israel’s main trading venue has struggled since a 2010 decision by index compiler MSCI Inc. to upgrade the country from

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Parler downloads jump as conservatives flock to the Twitter clone after Biden win

President Donald Trump

Trump’s reelection campaign joined the social media app Parler in 2018.


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Twitter and Facebook have cracked down on political misinformation by adding labels to posts including those shared by President Donald Trump, who lost his bid for reelection to Democratic challenger Joe Biden. Now conservatives are flocking to Parler, an alternative social network. 

Over the weekend, high-profile conservatives urged others to join Parler after major news outlets projected Biden’s victory. “Twitter has aided the Democrat Party in stealing this election and now everything Trump says is being silenced. Tell everyone you know to get on Parler,” far-right provocateur Laura Loomer told her more than 687,000 followers on Parler on Saturday.

Twitter and Facebook, which have repeatedly denied allegations of conservative bias, suspended Loomer from their platforms for violating their rules. Twitter permanently suspended Loomer in 2018 after she falsely tweeted that Democratic Minnesota Rep. Ilhan Omar, one of

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Why Did Palantir Stock Jump 35% Last Week

[Updated 11/10/2020] Why Did Palantir Stock Soar?

Palantir (NYSE: PLTR) stock rallied by about 35% over the last week, trading at levels of about $14 per share, after remaining largely listless post its late September debut. Big data and analytics is a hot sector at the moment, though investors have been on the fence about Palantir’s stock, given its high exposure to government contracts and also due to questions regarding the company’s ability to scale-up its user base. While it’s difficult to pinpoint what exactly caused the jump last week, there could be a couple of factors.

Through Covid-19, Palantir has been seeing higher traction from the public health space, with its services used to track Covid-19 data

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‘Massive Jump In Imaging Capability,’ Travel Photographer Says

KEY POINTS

  • Apple’s new iPhone 12 Pro Max is here
  • This device features the best camera setup in the series
  • A professional photographer took it for a test drive to see how it performs

Travel photographer Austin Mann tested the new iPhone 12 Pro Max’s rear camera capabilities and said it and the smaller iPhone 12 Pro both had “a massive jump in imaging capability.”

Mann, who also reviewed last year’s iPhone 11 Pro’s mobile photography capabilities, took the new iPhone 12 Pro Max on a trip to see how it will do when used to capture photos in varying locations, times of day, and light settings.

Here are some of the things Mann said about the new 6.7-inch iPhone 12 Pro Max’s rear camera:

“We can now capture photos of the Milky Way with an iPhone — crazy!”

The photographer said he took photos of the night sky immediately

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Shares jump as Biden edges toward victory, dollar slips

NEW YORK (Reuters) – The dollar slipped and global stock markets surged on Thursday as investors bet Republicans would be able to halt major policy changes under a Joe Biden presidency, while the Bank of England became the latest central bank to announce more stimulus.

With both Georgia U.S. Senate seats headed for possible runoff elections in January, the state could determine whether Republicans retain a majority in the Senate.

Biden drew closer to defeating Republican President Donald Trump as counting continued from Tuesday’s elections, even as the Trump campaign said it expected to launch more legal actions and would emerge victorious.

Investors leapt on the prospect of gridlock in Congress and the notion Silicon Valley will be spared greater oversight if the Democrats in fact are unable to control the Senate.

Tech shares in Europe jumped 2.5% .SX8P, extending a rally of just over 8% this week, while

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Nintendo profits jump 200% as Switch sales continue to sizzle

The Kyoto-based firm said that operating profit for the first half of the fiscal year, which ended in September, soared 209% to 291.4 billion Japanese yen ($2.8 billion) compared to the same period the year before. Sales climbed 73% to 769.5 billion yen ($7.4 billion).

The success shows that months into the pandemic, people are still turning to the Switch game console in droves. Nintendo sold about 12.5 million of the devices from April through September, an 81% increase over the previous year.

“Strong sell-through momentum continues even after the summer sales season,” Nintendo noted in a presentation to investors.

The firm on Thursday hiked sales projections for the Switch, predicting a jump through the financial year ending in March. It now expects to sell 24 million units, up from the 19 million previously forecast. The company’s profits are expected to surge by as much as 50%.

One notable success
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Facebook Leads Big Tech Stock Jump on Gridlock Election Bet

(Bloomberg) — Big technology stocks surged on Wednesday as investors bet that likely Republican control of the Senate could create gridlock in Congress, limiting new legislation that may have weighed on the industry.

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Facebook Inc. jumped more than 8%, the biggest intraday gain since late August. Google parent Alphabet Inc. climbed over 6%, while Amazon.com Inc. rose 5.8% and Apple Inc. added 4%.

Democratic prospects of taking control of the Senate faded on Wednesday after several vulnerable Republican incumbents fought off well-financed Democratic challengers. That helped ease concerns about big changes to U.S. antitrust laws targeting the largest internet platforms.

”We now see a material reduction in the possibility of a meaningful overhaul to existing antitrust law,” Evercore ISI analysts wrote in a research note on Wednesday. Facebook and Alphabet are “major winners on this front,” followed by Amazon, they said.

Before Election Day, the tech industry was

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Qualcomm Shares Jump on Outlook for Booming 5G Chip Demand

(Bloomberg) — Qualcomm Inc. gave an upbeat forecast for the current quarter, suggesting new 5G wireless networks are persuading consumers to upgrade their smartphones. Shares of the chipmaker jumped about 12% in extended trading.

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Revenue will be $7.8 billion to $8.6 billion in the period ending in December, the San Diego-based company said Wednesday in a statement. Analysts, on average, estimated $7.15 billion, according to data compiled by Bloomberg. Profit, excluding some items, will be $1.95 to $2.15 a share, versus Wall Street estimates of $1.66 a share.

Qualcomm is the biggest maker of chips that connect smartphones to wireless networks. That makes the company’s outlook a key indicator for the smartphone industry. The chipmaker has previously predicted rising demand as consumers trade in aging handsets for new 5G devices. The stock is up almost 50% this year.

“It’s 5G and everything playing out the way that we

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