>>>Intel beats by $0.01, beats on revs, DCAI segment revenue down 9%; guides Q1

Intel beats by $0.01, beats on revs, DCAI segment revenue down 9%; guides Q1 EPS below consensus, revs below consensus (20.01 +0.30)
  • Reports Q4 (Dec) earnings of $0.13 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.12; revenues fell 7.1% year/year to $14.3 bln vs the $13.83 bln FactSet Consensus.
  • Non-GAAP Gross margin down 6.7 ppts to 42.1%.
  • Client Computing Group (CCG) revenue down 9% to $8.0 bln.
  • Data Center and AI (DCAI) revenue down 3% to $3.4 bln.
  • Intel Foundry revenue down 13% to $4.5 bln.
  • Co issues downside guidance for Q1, sees loss of $0.00, excluding non-recurring items, vs. $0.09 FactSet Consensus; sees Q1 revs of $11.7-$12.7 bln vs. $12.88 bln FactSet Consensus. Sees non-GAAP gross margin of 36.0%.
  • "The cost reduction plan we announced last year to improve the trajectory of the company is having an impact," said David Zinsner, interim co-CEO and chief financial officer of Intel. "We are fostering a culture of efficiency across the business while driving toward greater returns on our invested capital and improved profitability. Our Q1 outlook reflects seasonal weakness magnified by macro uncertainties, further inventory digestion and competitive dynamics. We will remain highly focused on execution to build on our progress and unlock value."

Fwd:9to5 : Apple CEO Tim Cook responds to DeepSeek AI arrival



From: Laurent Chekroun (MAKOR CAPITAL MARKET) At: 01/31/25 00:42:55 UTC+1:00
Subject: 9to5 : Apple CEO Tim Cook responds to DeepSeek AI arrival


Apple CEO Tim Cook responds to DeepSeek AI arrival

When asked about Chinese AI firm DeepSeek on today’s investor call, Apple CEO Tim Cook explained how the disruptive new model is a positive development for the iPhone maker.

Analyst Ben Reitzes from Melius raised the question of how the arrival of DeepSeek is viewed by Apple. DeepSeek represents a drop in developmental cost of spinning up advanced AI models as well as the cost to run these models.

Hey, Tim. I wanted to ask you, you knew this one was coming, but there’s a perception that you’re a big beneficiary of lower cost compute, and I was wondering of your worldly perspective here on the deep situation, and if you are going to, if anything’s happened to change your views in terms of the tailwind to margin and your ability to execute, even due to the potential for cost to come down due to that development and probably what’s going to happen that happened anyway, but I love your perspective on that.

Cook responded by acknowledging the innovation that DeepSeek has shown in bringing down the cost of training and running their V3 model, which is behind the R1 reasoning model that competes with ChatGPT o3:

In general, I think innovation that drives efficiency is a good thing, and, you know, that’s what you see in that model.

Our tight integration of silicon and software I think will continue to serve us very well. As you know, we do things on the device and we do things in the private cloud, which mimics from an architectural point of view, what happens on the device.

And from a CapEx point of view, we’ve always taken a very prudent, deliberate approach to our expenditure and we continue to leverage a hybrid model, which I think continues to serve us well.

That hybrid model, building out Apple Intelligence while integrating with OpenAI’s ChatGPT, has certainly been praised this week. Apple is seen as not overly investing in AI now that development and operational costs should come down. Of course, that doesn’t mean Apple can slow its AI efforts, but it certainly takes the pressure off for now. For much more on the DeepSeek development, read our 9to5Neural explainer on DeepSeek, how it’s disrupting the American AI landscape, and more.

>>> Apple beats by $0.05, reports revs in-line & Conf Call Comments --> +3%

Apple beats by $0.05, reports revs in-line; iPhones miss; services and wearables roughly in line; China revs decline
  • Reports Q1 (Dec) earnings of $2.40 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $2.35; revenues rose 4.0% year/year to $124.3 bln vs the $124.26 bln FactSet Consensus.
  • Apple reports Q1 (Dec) iPhone revenue of $69.1 bln vs. $71.0 ests and $69.7 bln last year.
  • Apple reports Q1 (Dec) services revenue of $26.3 bln vs. $26.2 bln ests and $23.2 bln last year.
  • Apple reports Q1 (Dec) wearables revenue of $11.8 bln vs. $11.9 bln ests and $12.0 bln last year.
  • Apple reports Q1 (Dec) greater China revenue of $18.5 bln vs. $20.8 bln.
  • "Today Apple is reporting our best quarter ever, with revenue of $124.3 billion, up 4 percent from a year ago," said Tim Cook, Apple's CEO. "We were thrilled to bring customers our best-ever lineup of products and services during the holiday season. Through the power of Apple silicon, we're unlocking new possibilities for our users with Apple Intelligence, which makes apps and experiences even better and more personal. And we're excited that Apple Intelligence will be available in even more languages this April."
  • "Our record revenue and strong operating margins drove EPS to a new all-time record with double-digit growth and allowed us to return over $30 billion to shareholders," said Kevan Parekh, Apple's CFO. "We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments."
  • Apple CEO Tim Cook tells CNBC that yr/yr performance was stronger in markets where Apple Intelligence was rolled out. The company is still waiting on Apple Intelligence AI approval in China.

Apple earnings conference call update; sees Q2 total revs in line with consensus
  • Co sees Q2 (Mar) total company revs to grow low to mid single digits (FactSet consensus +5.3%). The company expects Q2 services revenue to grow low double digits.
  • Co sees Q2 F/X headwind of 2.5%.
  • Co sees Q2 gross margin of 46.5%-47.5%.
  • The company is seeing momentum in emerging markets.
  • All time revenue record in several countries.
  • The company reached 2.35 billion active devices, a new record.
  • Expanding Apple Intelligence to more countries and more languages.
  • Set all an time record for iPhone upgrades.
  • The company has over 1 billion subs across services.
  • Sales were better where Apple Intelligence was rolled out.

>>> Summary of President Trump's comments to reporters; will impose 25% tariffs

Summary of President Trump's comments to reporters; will impose 25% tariffs on Canada/Mexico starting Feb 1 (see prior comments under SPY) (605.04 +3.23)
Mr. Trump said:
  • He is moving forward with plan to impose 25% tariffs on Canada/Mexico starting Saturday due to immigration, trade deficits, and fentanyl.
  • He is still determining if Canadian oil imports will be subject to the tariffs.
  • US does not need Canadian lumber.
  • He is also considering tariffs on China.
  • Signed new executive order on aviation safety.
  • He wants the best people in air traffic control jobs.
Related stocks: ALV, AMZN, APTV, AXL, BMWYY, DG, DLTR, EWC, EWW, F, FXI, GM, HMC, LCID, PDD, RIVN, STLA, TGT, TM, VWAGY, WMT, SU

>>> US After Hours Summary: TEAM +18.9%, KLAC +4.3%, INTC +3.5%, AAPL +3.2% high

After Hours Summary: TEAM +18.9%, KLAC +4.3%, INTC +3.5%, AAPL +3.2% higher on earnings; DECK -15.8%, BZH -9.3%, OLN -8.2% lower on earnings

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: TEAM +18.9%, VIAV +15.2%, EMN +6.2%, ATGE +6.1%, CACC +5.8%, SKYW +4.8%, KLAC +4.3%, CVCO +3.8%, INTC +3.5%, AAPL +3.2%, TBBK +2.6%, LPLA +2.3%, PMT +2.1%, TFSL +1.5%, V +1.3%, ABCB +0.1%, STEL +0.1%

Companies trading higher in after hours in reaction to news: CIFR +18.9% (announces $50 mln PIPE investment from SoftBank), ALL +1.5% (to sell its Group Health business to Nationwide for $1.25 bln), FANG +1.3% (VNOM and FANG announce drop down transaction for $1 bln in cash and units relating to mineral and royalty interests), KRMD +1.1% (announces collaboration with global pharma on phase 3 trial), AROC +0.9% (increases dividend), MSFT +0.5% (starting its performance-based job cuts, according to Business Insider), PII +0.4% (increases dividend), WM +0.3% (shedding 1,000 jobs this year, targeting $450 mln in savings from automation, according to WSJ), CDMO +0.2% (stockholders vote to approve transaction with GHO Capital)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: DECK -15.8%, BZH -9.3%, OLN -8.2%, BOOT -7.4%, PFSI -4.4%, APPF -3.2%, HIG -2%, GEN -1.9%, AJG -1.6%, CNI -1.1% (also increases dividend, announces NCIB for repurchases), BKR -0.7%, RMD -0.7%, HTH -0.1%, X -0.1%

Companies trading lower in after hours in reaction to news: WBA -8.3% (suspends dividend), DHX -5.7% (names new CFO), AESI -4% (commences 10 mln share offering), XYL -1.4% (announces restructuring plan, includes workforce reduction; says Q4 earnings will be largely in line with prior guidance), DEO -1.2% (to open a new facility in Alabama), BTMD -0.9% (CEO to retire, names new CEO), FIS -0.9% (increases dividend), VNOM -0.5% (VNOM and FANG announce drop down transaction for $1 bln in cash and units relating to mineral and royalty interests; VNOM launches 22 mln share offering)

>>> U.S. Steel misses by $0.02, reports revs in-line; Expects Q1 adjusted EBITDA

U.S. Steel misses by $0.02, reports revs in-line; Expects Q1 adjusted EBITDA of $100-$150 mln; Company and Nippon Steel filed lawsuits in response to their proposed merger being blocked by U.S. government (36.53 -0.01)
  • Reports Q4 (Dec) loss of $0.13 per share, excluding non-recurring items, $0.02 worse than the FactSet Consensus of ($0.11); revenues fell 15.3% year/year to $3.51 bln vs the $3.54 bln FactSet Consensus.
  • Adjusted EBITDA of $190 million.
  • 1Q25 Outlook: "We expect first quarter adjusted EBITDA in the range of $100 million and $150 million. Our North American Flat-Rolled segment results are expected to decrease, primarily driven by seasonal logistics constraints in the mining sector, which will unwind in the second quarter. We expect this to be partially offset by resiliency in our commercial strategy. We expect an improvement in Mini Mill segment results reflecting the increase in shipments from BR2, even after accounting for approximately $50 million of ramp-up costs. In Europe, we expect results to slightly improve but still face pressures from challenging pricing and demand conditions. Our Tubular segment results should be largely consistent with the fourth quarter."

FT : Tiffany releases its ‘gravity defying’ diamond

Tiffany releases its ‘gravity defying’ diamond
The new setting is part of a collaboration with Louis Vuitton’s creative director Pharrell Williams

This week Tiffany & Co debuted the new Titan Setting, which creates the illusion of a hovering diamond. The effect is possible thanks to the Floeting “platform”, a patented creation from a New Zealand jewellery company that includes a micro-engineered round brilliant diamond and its accompanying mounting, set without prongs or bezels.

“The diamond appears to sort of defy gravity,” says Floeting’s co-inventor Chris Benham, speaking from Wellington.

The launch is the latest effort from the LVMH-owned house to elevate its standing in the high-end jewellery segment, where its promise has been slow to materialise despite the French conglomerate’s investment in its rebranding since 2021. The LVMH group does not report individual brand performance, but sales of its watches and jewellery division struggled to perform in 2024, closing the year with revenues down 2 per cent over 2023 on an organic basis. Despite an improvement in Tiffany’s performance, investment in the category weighed on operating profit.

Under LVMH, Tiffany in 2023 unveiled a complete redesign of its Manhattan flagship store, which has been described as “the biggest investment in the history of luxury”, and a number of collaborations with names such as Supreme, Fendi, Nike and Beyoncé. The Titan Setting itself is part of a new instalment of the Titan collection, a collaboration with Louis Vuitton men’s creative director, recording artist and producer Pharrell Williams that the house debuted last year.


Tiffany is the first jewellery house to use the Floeting platform, which took 17 years to perfect, with input from science and gemstone laboratories, and even an ex-Formula One engineer. The stone that comes with it features 89 facets, about 50 per cent more than your average round brilliant diamond, and ultra-precise micro grooves to connect the setting.

The development of the first round brilliant diamond is credited to Belgian diamantaire Marcel Tolkowsky in 1919, and the cut has long been Tiffany’s wheelhouse — its patented Tiffany setting engagement ring features a round brilliant diamond held by six prongs. But the shape today has become increasingly indistinguishable in the market and a harder sell as consumers seek more interesting and unusual fancy cut stones.

Tiffany’s move to partner with Floeting follows a trend among top jewellery houses seeking to strengthen brand identity by developing recognisable cuts, settings and designs. Tobias Kormind, managing director of 77 Diamonds, one of the largest online jewellers in Europe, says that “there’s a very strong commercial incentive right now to make everything about the brand — and that’s where the cuts really come in, [as they] allow brands to differentiate significantly”.

Most prominent in this effort is Louis Vuitton, which has cut stones into the star and flower shape of its iconic monogram print in both its high and fine jewellery collections. Francesca Amfitheatrof, artistic director for watches and jewellery at Louis Vuitton, calls the LV Monogram cuts the “holy grail” for clients, who are “totally seduced” by them, she says. Meanwhile, another LVMH stablemate, Chaumet, has also created a unique hexagon-shaped cut called Taille Impératrice (empress-cut in French), featuring 88 facets, which riffs off the house’s signature bee-themed jewellery collection.

Engineering new cuts, however, requires a considerable amount of time and investment. For this reason smaller independent jewellers have been designing around signature fancy cuts, such as Bond Street’s David Morris, who is known for its regular use of rose cut diamonds. Rather than embarking on the development of a completely new cut and setting, Tiffany has partnered with Floeting, which had already spent almost two decades working on its creation.


“The idea that things move and perform beyond explanation is fascinating,” says Williams of why he was drawn to the Floeting platform, which has been employed in a diamond earring with a fishtail setting, and a ring encircled by four Titan spears that highlight the central diamond. “For one to look and question ‘Wait a minute, how is that stone there?’”

The collection also introduces a unisex-style pendant, earrings, necklace, bracelet and ring punctuated with earthy grey Tahitian pearls over 11mm in diameter. Men are increasingly drawn to Tiffany Titan, according to the house and the Floeting novelty may further that interest. Christine Douglas, Floeting’s co-inventor, says that the setting has attracted a new segment of male clients who haven’t traditionally considered diamonds, in particular engineers, architects and those working in tech.

“We thought that people might be put off by the technology, but in fact it’s been the opposite,” she says. Tech bros who are embracing diamond jewellery with a touch of Pharrell magic? That could be the boost that Tiffany needs.

L'Informé : Mini-réacteurs nucléaires : le fondateur de Newcleo reprend la main

Mini-réacteurs nucléaires : le fondateur de Newcleo reprend la main en France
Stefano Buono récupère les missions de Ludovic Vandendriesche, directeur général de Newcleo SA, tout récemment rebaptisée Newcleo opérations.


Après un automne déjà bien rempli, la 􀀁n de l’année 2024 a été riche en événements pour Newcleo. L’entreprise qui planche sur un projet de petit réacteur nucléaire modulaire de 4e génération (Advanced modular reactor - AMR), refroidi au plomb, a perdu l’un de ses hommes forts en décembre. Ludovic Vandendriesche, directeur général depuis septembre 2023 de la 􀀁liale lyonnaise, Newcleo SA, a quitté ses fonctions. La gre􀀂e n’a pas pris avec cet ancien DG du spécialiste des solutions et services de sécurité incendie DEF, également passé par la CNIM et le groupe d’ingénierie Onet technologies. Son départ a été entériné par le conseil d’administration le 9 décembre.

Ses missions sont reprises par le fondateur de Newcleo, Stefano Buono, déjà PDG de la holding, qui a annoncé la 􀀁nalisation du transfert de son siège social du Royaume-Uni vers la France le 30 septembre. Objectif : rapprocher l’entreprise de l’Europe et notamment de ses investisseurs.
D’autant qu’après la clôture de sa première levée de fonds (535 millions d’euros), Newcleo entend en ouvrir une seconde, en France. La maison mère, qui compte l’ex-ministre des armées Florence Parly à son conseil d’administration, a par ailleurs décidé de changer l’appellation de sa 􀀁liale Newcleo SA pour celle de Newcleo opérations. Autre changement dans la gouvernance de l’entité lyonnaise : le directeur administratif et 􀀁nancier Matthieu Houmeau en a été nommé administrateur.

Techniquement, Newcleo a également franchi une nouvelle étape ces dernières semaines. La société, qui revendique 700 actionnaires dont le fonds de pension italien Inarcassa, des family o􀀃ces ou encore des sociétés industrielles et d’ingénierie comme la transalpine Walter Tosto et la française Ingérop, a annoncé le 16 décembre avoir déposé son dossier d’option de sûreté (DOS) - examen des options de sûreté préalable à une demande d’autorisation de création d’installation nucléaire de base - auprès de l’Autorité de sûreté nucléaire et de radioprotection (ASNR). Sa demande porte sur son projet d’installation d’essais d’assemblages combustibles.