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C3.ai Hits "Inflection Point"
And, Oracle's AI growth falls short.
Today is Tuesday, December 10, 2024.
The Early Bird Index today is 84.10
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C3.ai Hits "Inflection Point"
Fresh off its new alliance with the Microsoft (Nasdaq: MSFT) cloud platform Azure, C3.ai (NYSE: AI) posted good financial results on Monday and jumped 5.33% in after-hours trading.
Financials: C3.ai reported a loss of six cents per share in the past quarter and revenue of $94.3 million; both were better than expected.
Quote: “By establishing C3.ai as a preferred AI application provider on Azure and creating a Microsoft-scale go-to-market engine, we’re making it easy for businesses to adopt and deploy C3.ai applications. This is an inflection point for enterprise AI, driving growth.” - CEO Thomas M. Siebel.
Early Bird’s Nest Egg Gains: This increased visibility and access to Microsoft's vast customer base is likely to drive substantial growth in C3.ai's customer acquisition. C3.ai's applications will be available through the Microsoft Commercial Cloud Portal, potentially boosting sales for the company.
Final Thoughts: Up 45% this year, C3.ai looks to end 2024 on a good note.
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Notables
Notable Earnings Today: GameStop (NYSE: GME), Stitch Fix (Nasdaq: SFIX), AutoZone (NYSE: AZO), Academy Sports + Outdoors (Nasdaq: ASO), Ollie’s Bargain Outlet (Nasdaq: OLLI), Dave & Buster's (Nasdaq: PLAY), Designer Brands (NYSE: DBI), Ferguson (NYSE: FERG), United Natural Foods (NYSE: UNFI), G-III Apparel (Nasdaq: GIII), D-Market Electronic Services (Nasdaq: HEPS), Johnson Outdoors (Nasdaq: JOUT), Mama’s Creations (Nasdaq: MAMA), MoneyHero (Nasdaq: MNY), Skillsoft (NYSE: SKIL), Sportsman’s Warehouse (Nasdaq: SPWH).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: Black Hammer Brewing (SMBX), RYSE (Republic), Pharma the Movie (Wefunder).
Notable Economic Events Today: Nonfarm Productivity (8:30 a.m. ET), Unit Labor Costs (8:30 a.m. ET), WASDE Report (12:00 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).
Oracle's AI Growth Falls Short
Tech giant Oracle (NYSE: ORCL) dropped 7.80% in after-hours trading on Monday after reporting lackluster financial earnings results.
Financials: Oracle reported earnings of $1.47 per share in the past quarter and revenue of $14.1 billion; both were lower than expected.
Details: The company touted its “growth in the AI segment,” but investors were not impressed.
Final Thoughts: The stock already climbed 83% this year before these results.
Vail Resorts Posts Improved Financial Results
Vail Resorts (NYSE: MTN) jumped 3.72% in after-hours trading on Monday after reporting better-than-expected financial results.
Financials: Vail Resorts reported a loss of $4.61 per share in the past quarter and revenue of $260.2 million; both were better than expected.
Final Thoughts: The stock was down 9.6% in 2024 before these results.
Trends to Watch
Bitcoin Buying Spree: MicroStrategy Makes Another Large Bitcoin Purchase, Buying 21,550 BTC for $2.1B (CoinDesk)
Cord Cutting: Comcast shares tumble as executive calls broadband ‘intensely competitive’ (CNBC)
Price Correction: Ethereum falls to $3.8K, but are ETH traders turning bearish? (Cointelegraph)
Chipped: AMD Stock Falls After Downgrade From BofA, Citing Risks From Competition (Investopedia)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.