
Chile Investors Rediscover Their Appetite for Risk, Survey Shows
More than 70% of analysts and traders polled by Bloomberg said they prefer corporate bonds over Treasury notes, the highest percentage since Bloomberg resumed the monthly survey in March. At the same time, those who said they would avoid anything rated less than AAA fell to the lowest in at least five months.
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Microsoft set for $4 trillion market cap after posting Q4 beat on top and bottom line on cloud, AI strength
Microsoft (MSFT) reported its fiscal fourth quarter earnings on Wednesday, beating analysts' expectations on the top and bottom lines on the strength of its cloud revenue. Its stock climbed around 9% in premarket trading, setting the company on track to become the second in the world to reach a $4 trillion market valuation. "Cloud and AI is the driving force of business transformation across every industry and sector," Microsoft CEO Satya Nadella said in a statement. 'We're innovating across the tech stack to help customers adapt and grow in this new era, and this year, Azure surpassed $75 billion in revenue, up 34%, driven by growth across all workloads.' For the quarter, Microsoft saw adjusted earnings per share (EPS) of $3.65 on revenue of $76.4 billion. Wall Street was anticipating adjusted EPS of $3.37 and revenue of $73.89 billion, according to Bloomberg analyst consensus estimates. The company saw adjusted EPS of $2.95 and revenue of $64.72 billion in the same period last year. Intelligent Cloud segment revenue, which includes Microsoft's Azure business, topped out at $29.8 billion. Analysts were looking for $29.09 billion. Still, the company says demand continues to outstrip capacity. The Windows maker's earnings come a week after Google (GOOG, GOOGL) posted better-than-anticipated second quarter results on the strength of its cloud revenue growth, sending shares higher. The company also said it is pouring an additional $10 billion into its AI build-out, bringing the year's total from $75 billion to $85 billion. But investors were unperturbed by the increase and instead focused on CEO Sundar Pichai's commentary indicating that Search volume grew by double digits in the quarter. Despite Microsoft's solid growth, Wedbush analyst Dan Ives wrote in a recent investor note that the company's AI investments will truly take off in fiscal 2026. 'While AI use cases are building markedly in FY25, [it's] clear FY26 for Microsoft remains the true inflection year of AI growth as CIO lines build for deployments behind the velvet ropes in Redmond,' Ives wrote. BofA Global Research's Brad Sills, meanwhile, said that Microsoft's AI-powered Copilot software could serve as its next growth catalyst. Microsoft is an AI leader thanks to its early investments in ChatGPT creator OpenAI ( But the companies are at odds over OpenAI's plans to transform its for-profit arm into a public benefit corporation and how much equity Microsoft will get in the new business. Without Microsoft getting on board, OpenAI could lose out on $20 billion in investments, hurting its future growth prospects. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Wall Street Journal
25 minutes ago
- Wall Street Journal
Societe Generale Shares Jump to 2008 High on Upbeat Outlook, Higher Returns
Societe Generale GLE 5.42%increase; green up pointing triangle shares climbed to their highest level in more than a decade on lifted guidance and boosted investor payouts, with analysts saying the lender's turnaround is paying off. France's third largest lender by market capitalization benefited from a continued rebound in its domestic retail-banking operations and cost controls, which helped its profit for the second quarter rise sharply.


Bloomberg
25 minutes ago
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Tata Steel to Explore New Markets as Tariffs Hit US Shipments
India's Tata Steel Ltd. is planning to explore new markets in regions such as the Middle East and Latin America, as President Donald Trump's tariffs impact shipments to the US. 'We are looking at other markets where there is a requirement for high-end steel and where we are not impacted by these kinds of tariffs,' Chief Executive Officer T.V. Narendran told Bloomberg Television in an interview with Haslinda Amin, without elaborating on fallout from US levies.