News 

Amazon’s secretive Cambridge Alexa start-up doubles revenue and headcount

“A secretive Cambridge technology start-up acquired by Amazon that helped pioneer the Amazon Echo smart speaker has doubled its headcount and revenues” writes Matthew Field for telegraph.co.uk. Evi Technologies, which is owned by Amazon and was responsible for a significant part of the development of its Alexa artificial intelligence technology, doubled its revenues in 2017 to £36m, up from around £18m in 2016.Alexa is Amazon’s voice assistant and a key part of its smart speaker technology. Source: telegraph.co.uk Share This:

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Crypto Markets News 

Crypto Mining Decline Deals Blow to Nvidia…

“Do you think that Nvidia will see a resurgence in cryptocurrency related earnings once the market recovers?” writes Devashish Bhuyan for livebitcoinnews.com. Due to the ongoing decline in cryptocurrency mining, Nvidia Corp. shares dropped 5% on Friday to close the day at $244.82, down from $257.44 on Thursday.The loss comes amid reports that Nvidia’s cryptocurrency-related sales were significantly lower than expected in Q2 2018.Analysts for the company are estimating third-quarter earnings of between $3.19 and $3.32 billion.Furthermore, according to Marketwatch, the company isn’t counting on any such sales for the…

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Why MoviePass failed

“I’ve heard the joke a hundred times: MoviePass’ original concept failed because it gave away free money to subscribers” reports cnet.com. Lowe told me that as of July, MoviePass was paying full price for over a million AMC tickets every month — tickets it couldn’t get a discount on. But the big reason MoviePass failed was because it couldn’t make the right deals to bring down the price of those tickets — the main thing it needed to survive.But when I spoke to Lowe again early last month — just…

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News Stocks 

Analysts are more bullish on Nvidia stock despite investor disappointment

“Nvidia said it expects third-quarter revenue of $3.19 billion to $3.32 billion, below the FactSet consensus of $3.34 billion” writes Reporter Editor for marketwatch.com. Nvidia Corp.’s fiscal second-quarter results and outlook disappointed investors, but it made Wall Street analysts even more bullish, as they brushed aside the surprise drop in cryptocurrency-mining sales and the softer outlook.That brought the number of bullish analysts surveyed by FactSet up to 21, and the number with the equivalent of hold ratings down to 12.One analyst upgraded the stock to the equivalent of a buy…

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Applied Materials’ weak forecast fans concerns over the end of the chip boom

“The weak forecast clouded yet another quarterly beat on revenue and profit by Santa Clara, California-based Applied Materials” writes David Paul Morris for cnbc.com. Applied Materials, the world’s largest supplier of equipment used to make chips, forecast current-quarter profit and revenue below Wall Street estimates, adding to fears that a two-year chip boom may be losing steam.Applied Materials’ also topped analysts’ estimates for revenue growth in its semiconductor and display businesses.Applied Materials expects fourth-quarter adjusted profit of between 92 cents and $1 per share and net sales of between $3.85…

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Deere shares slide as higher costs lead to earnings miss

“Shares of tractor company Deere fell about 4 percent in the premarket Friday after the company reported weaker-than-expected profit” writes unknown author for cnbc.com. The company’s revenue got a boost from strong sales in its agricultural and turf business, which came in at $6.29 billion. The company’s net income also rose 42 percent on a year-over-year basis to $910 million from $642 million, thanks in part to lower corporate taxes.Deere posted adjusted earnings per share of $2.59 for its fiscal third quarter. Source: cnbc.com Share This:

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News Stocks 

Deere’s stock drops after revenue beat, downbeat growth outlook

“DE, +1.22% fell 1% in premarket trade Friday, after the agriculture and construction equipment maker reported fiscal third-quarter revenue that topped expectations but provided a downbeat net sales growth outlook” writes Reporter Editor for marketwatch.com. Net income rose to $910.3 million, or $2.78 a share, from $641.8 million, or $1.97 a share, in the same period a year ago.Deere affirmed its 2018 outlook for adjusted net income of $3.1 billion.For fiscal 2018, the company expects net sales to rise 26% from a year ago, while the FactSet consensus of $33.68…

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Crypto News 

Nvidia says cryptocurrency-specific Q2 revenue was $18M, below its $100M estimate, down from $289M in Q1, projects no cryptocurrency contributions going forward

“Nvidia previously had forecast sales for cryptocurrency chips for the fiscal second quarter ended July 29 of about $100 million” writes Min Read for reuters.com. Analyst KinNgai Chan of Summit Insights Group said Nvidia shares were likely to trade lower as analysts reset their expectations around slower growth rates. Analysts on average had expected a profit of $1.66 per share and revenue of $3.10 billion, according to Thomson Reuters I/B/E/S.(Reuters) – Nvidia Corp (NVDA.O) shares fell as much as 5 percent in after-hours trading on Thursday after the chip maker…

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News Stocks 

Nvidia stock drops as crypto-mining decline overshadows earnings beat

“Of the 25 analysts surveyed by FactSet, Nvidia on average was expected to post GAAP earnings of $1.67 a share” writes Wallace Witkowski for marketwatch.com. On an adjusted basis after accounting for stock-based compensation, analysts on average expected earnings of $1.85 a share, according to FactSet.Wall Street expected revenue of $3.1 billion from Nvidia, according to 31 analysts polled by FactSet.Nvidia Corp. shares dropped in the extended session Thursday after the graphics-chip maker’s revenue outlook was hit by a sudden decline in cryptocurrency-mining sales.Nvidia reported a 52% surge in gaming…

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