Profit by knowlytics
Track key corporate news, quarterly earnings summaries, startup funding updates, executive movements, and major company announcements across leading industries.
Infosys and Wipro ADRs fell after IBM forecast weaker-than-expected quarterly revenue, signalling enterprise spending is shifting from software to AI infrastructure. The warning heightened concerns over discretionary technology budgets, deal delays and growth prospects for Indian IT companies.
IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management attributed the shortfall to delayed deal closures and shifting client spending toward hardware ahead of price hikes, while cybersecurity concerns further weighed on performance during the quarter.
The Securities and Exchange Board of India (Sebi) has granted the Mehta Family Trust relief from the open offer requirement linked to their indirect acquisition of shares in Saurashtra Cement Ltd. This restructuring aims to facilitate succession planning within the family and has been determined as non-commercial, ensuring that the control of the company remains…
Bank of America reported a boost in its second-quarter net income, largely driven by a significant uptick in its trading activities. This surge in trading revenue helped offset other areas, leading to a stronger overall financial performance for the banking giant during the period.
Wells Fargo reported a significant profit increase in the second quarter. Strong trading desks and robust loan growth fueled this positive financial performance. Net income rose seventeen percent, exceeding analyst expectations for the period. The bank’s investment banking fees also saw a substantial jump. Headcount reduction continued as part of a long-term growth strategy.
Vedanta plans major expansion across its demerged businesses, targeting higher production in metals, oil, gas, steel and power. Chairman Anil Agarwal highlighted record FY2026 performance, AI-led efficiency, critical mineral exploration and ambitious capacity additions to drive long-term growth.
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and…
Value investor Jean-Marie Eveillard emphasizes long-term focus over short-term market volatility. He argues that focusing on daily price movements leads to emotional and wealth-eroding decisions. Patience and business quality are key competitive advantages for disciplined investors. History shows markets move in cycles, rewarding those who stay the course. Greatest risk lies in letting short-term noise…
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and…
IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management attributed the shortfall to delayed deal closures and shifting client spending toward hardware ahead of price hikes, while cybersecurity concerns further weighed on performance during the quarter.