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Deals involving Cisco Systems, FuboTV and a handful of other major sports media outlets led activity in the technology sector last week as the latest earnings season has slowed to a trickle. to close.
Among these report results, Cisco (NASDAQ:CSCO) shares rose 6% after the networking giant reported strong quarterly results, and indicated that it is doing well to manage the supply chain problems that have dogged many tech bellwethers for more than a year.
And unlike other tech companies that have begun cutting jobs to varying degrees, Cisco ( Cisco ) said it will increase spending by $1 billion next year to increase employee pay and encourage employees to stay with the company.
Along with Cisco ( CSCO ), Applied Materials ( AMAT ) also got a lift after the semiconductor equipment maker’s quarterly report and outlook helped ease some concerns about a prolonged slowdown in the chip market.
Unfortunately, other chip companies such as Nvidia ( NVDA ) were unable to immediately rally on Applied Materials’ ( AMAT ) results.
Meanwhile, streaming TV platform company FuboTV (Nice: Fubo) held its first investor day meeting, where FUBO executives outlined a profitable path to doubling sales between 2022 and 2025, sending shares up 45 percent.
Among other TV streaming companies, Netflix ( NFLX ) is reportedly planning to ban movie downloads and TV shows from its ad-supported subscription option. HBO Max ( WDD ) has reportedly shuttered its reality programming division, cut jobs and eliminated more than 200 episodes in what is expected to be a major overhaul of the streaming TV service. Sesame Street From the release library.
Amazon (NASDAQ: AMZNThe National Football League, which holds exclusive streaming rights to Thursday Night Football, said those games will be included in Nielsen’s ( NLSN ) traditional weekly TV ratings. and Paramount Global (NASDAQ: PARA) has renewed the US broadcast and streaming rights to UEFA Champions League soccer matches for six years starting in 2024 for $1.5B.
As the court case between Twitter ( TWTR ) and Elon Musk draws to a close, Musk’s lawyers have subpoenaed a handful of ad tech companies for information on how to analyze Twitter’s ( TWTR ) user numbers. Musk kicked off the week by posting in a China column expressing his views on society and the future of technology. The column appeared in the official publication of the Cyberspace Administration of China, which oversees Chinese technology companies such as Alibaba ( BABA ) and JD.com ( JD ).
And Alibaba ( BABA ), JD.com ( JD ) and a handful of other Chinese tech companies took it on the chin after investor Ray Dalio announced that Bridgewater Associates had sold all of his known holdings in Alibaba ( BABA ) and others. Chinese technology companies.
And around the end of August, speculation began to grow as to when Apple ( AAPL ) will hold its next company event, which is expected to showcase the iPhone 14.
