Latest news with #GregCathey
Yahoo
16-06-2025
- Business
- Yahoo
Potential Alphabet (GOOGL) and OpenAI Deal Could Shift Dynamics in AI Race
Alphabet Inc. (NASDAQ:GOOGL) is one of the 10 best tech stocks to buy according to billionaires right now. On Tuesday, June 10, Reuters reported that OpenAI is partnering with Google Cloud to meet its growing need for computing power, citing three sources familiar with the matter. As both these companies are seen as competitors in AI space, this collaboration is a bit surprising, especially, since OpenAI's ChatGPT has long been seen as disruptor for Google's search business. However, the agreement was finalized in May and brings Google into OpenAI's expanding network of infrastructure providers as it scales training and deployment of advanced AI models. Pixabay/Public Domain Google Cloud aims to position itself as a flexible and neutral platform for handling high-performance computing workloads, responding to growing industry demand for infrastructure. As per Reuters, a key factor in securing this agreement was the company's decision to open access to its proprietary Tensor Processing Units (TPUs) for external partners. While one of Reuters' sources mentioned that the deal was finalized in May (after months of discussion), none of the concerned companies has agreed to comment on Reuters' queries. Earlier last week, Wing Aviation LLC, a subsidiary of Alphabet, announced its plan to expand 'Wing' drone delivery to an additional 100 Walmart stores across selected markets. The companies have highlighted this as world's largest drone delivery expansion. On the announcement, Greg Cathey, SVP, Walmart U.S. Transformation and Innovation, stated: 'As we look ahead, drone delivery will remain a key part of our commitment to redefining retail. We're pushing the boundaries of convenience to better serve our customers, making shopping faster and easier than ever before.' Alphabet Inc. (NASDAQ:GOOGL) is the parent company of Google and a pioneer in internet-related services and products, including online advertising technologies, search engines, cloud computing, software, and hardware. The company is also a leading investor in data centers and fiber networks, operating a vast global network of data centers that support its cloud services and other digital offerings. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 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
Miami Herald
10-06-2025
- Business
- Miami Herald
Walmart analysts reboot stock price targets on credit card deal
Look up, look down, Walmart (WMT) is all around. First, we'll go high. The world's largest retailer, which has a store within 10 miles of 90% of the U.S. popuation, recently said it would expand its drone delivery service through Alphabet-owned (GOOGL) Wing. The expansion will reach customers from 100 stores in Atlanta, Charlotte, Houston, Orlando and Tampa within the coming year. Don't miss the move: Subscribe to TheStreet's free daily newsletter With the expansion, Walmart's drone deliveries will be available in five states: Arkansas, Florida, Georgia, North Carolina and Texas. "As we look ahead, drone delivery will remain a key part of our commitment to redefining retail," Greg Cathey, senior vice president of Walmart U.S. Transformation and Innovation, said in a statement. Meanwhile, the "Tonight Show"'s Jimmy Fallon hosted Walmart's annual meeting, which also included such musical acts as the Killers, Noah Kahan, Camila Cabello and Post Malone. Walton Goggins, who is appearing in Walmart's new ad campaign, and Chris Paul, guard for the NBA's San Antonio Spurs, also showed up. "Walmart is No. 1, so shove it, Target," Fallon sang, digging at one of the company's key rivals. "There is no place I would rather be on Friday at 8 a.m." Walmart President and CEO Doug McMillon told the audience that the company wanted "to be a lab of opportunity," the Arkansas Democrat Gazette reported. Bloomberg/Getty Images "The real magic happens with the combination of our people and technology," he said. ""We love people and we embrace change." More Retail Stocks: Halloween retailer sounds warning consumers need to hearTarget expands same-day delivery to 100s of retailersWalmart makes surprise cuts as it looks at tariff price hikes And then there was the news that Synchrony Financial (SYF) and OnePay, a fintech majority-owned by Walmart, would launch a new credit card program. That's scheduled to go live in the fall. OnePay, which Walmart created in 2021 with the venture firm Ribbit Capital, will handle the customer experience for the card program through its mobile app. In 2023, Walmart sued Capital One to end their credit card partnership early, alleging that McLean, Va., financial services company was not fulfilling its contractual obligations. A federal judge ruled in Walmart's favor, but Capital One was evaluating its right to appeal. The companies settled last year and the lawsuit was dismissed. The Walmart card program had 10 million customers and roughly $8.5 billion in loans outstanding last year, when the partnership with Capital One ended, according to Fitch Ratings. TD Cowen noted that Synchrony would not purchase the existing Walmart card portfolio from Capital One (COF) , so this new program will have to be built from scratch, according to The Fly. Similar to any new portfolio, TD Cowen said, it will likely be dilutive to holders at first, as Synchrony will need to build reserves, the analyst tells investors. However, while the investment firm said it would need more details from the Bentonville, Ark., retailer, the fact that Walmart, via OnePay, decided to come back to Synchrony indicates "favorable negotiating position/economics" for Synchrony in this deal. It views the plan as a positive for the financial services group. TD Cowen has a buy rating and $68 price target on Synchrony shares. Related: Walmart quietly launches new same-day delivery option in 5 more US cities Walmart shares are up 7% this year and up nearly 45% from this time in 2024. RBC Capital raised its price target on Walmart to $103 from $102 and affirmed an outperform rating on the shares. Having attended the company's Annual Associates & Shareholders Week meeting, the investment firm said management's tone and messaging were consistent with the Q1 earnings call in mid-May. Management said it was working on an artificial-intelligence-enabled offering that will reorder core grocery items when they're running low. The company is working to leverage AI to pair consumer-purchases data and smart-fridge technology, the firm said. KeyBanc raised its price target on Walmart to $110 from $105 and maintained an overweight rating after the annual meeting. The firm came away incrementally positive on Walmart's ability to drive share gains in 2025 and beyond; growth of e-commerce and advertising; and Walmart's ability to grow operating profit faster than sales over a multiyear horizon. Importantly, KeyBanc said that it continues to believe Walmart's digital business is exhibiting flywheel characteristics, where growth should drive additional growth. While it still sees potential risks to consumer spending as the Trump administration's tariffs start to flow through to store-shelf prices, the firm says Walmart is among the best positioned in retail. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
10-06-2025
- Business
- Yahoo
Walmart drone delivery expands: Service is coming to 5 new US cities
Walmart is expanding its drone delivery service to five more major United States cities, the company announced. The retail corporation is set to offer the amenity in parts of Georgia, Florida, North Carolina and Texas, Walmart wrote in a press release. The company already offered drone delivery in Dallas, Texas and Bentonville, Arkansas. Walmart said it has made more than 150,000 drone deliveries since launching the service in 2021. "This expansion underscores Walmart's commitment to reshaping the future of fast and flexible retail," the release reads. Here is what to know about the service and where it's expanding. Walmart, according to its website, now offers drone delivery in these five new cities: Atlanta Charlotte Houston Orlando Tampa Walmart currently provides drone delivery in Dallas as well as it its headquarters city of Bentonville, Arkansas. Including the expanded sites, Walmart said it will offer drone delivery services at a total of 100 stores. 'This expansion of our drone delivery service marks a significant milestone in that journey," Greg Cathey, senior vice president of Walmart U.S. Transformation and Innovation said in the release. "As the first retailer to scale drone delivery, Walmart is once again demonstrating its commitment to leveraging technology to enhance our delivery offerings with a focus on speed.' Could the tech reach your state? Drones are delivering medical supplies in Massachusetts Walmart encourages those looking to use drone deliveries in Atlanta, Charlotte, Houston, Orlando and Tampa to sign up on Wing to be notified of when the service becomes available in their market. For shoppers in the Dallas-Fort Worth area, Walmart said you can check your eligibility here. Walmart and other big businesses including Amazon began using drone delivery in recent years. Walmart began testing drone delivery in 2020 and the following year, the company announced it invested in drone company DroneUp. Since then, the retailer has continued to offer drone deliveries to more markets and customers. Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund. This article originally appeared on USA TODAY: Walmart drone delivery coming to 5 new US cities: See list Sign in to access your portfolio
Yahoo
10-06-2025
- Business
- Yahoo
Walmart drone delivery expands: Service is coming to 5 new US cities
Walmart is expanding its drone delivery service to five more major United States cities, the company announced. The retail corporation is set to offer the amenity in parts of Georgia, Florida, North Carolina and Texas, Walmart wrote in a press release. The company already offered drone delivery in Dallas, Texas and Bentonville, Arkansas. Walmart said it has made more than 150,000 drone deliveries since launching the service in 2021. "This expansion underscores Walmart's commitment to reshaping the future of fast and flexible retail," the release reads. Here is what to know about the service and where it's expanding. Walmart, according to its website, now offers drone delivery in these five new cities: Atlanta Charlotte Houston Orlando Tampa Walmart currently provides drone delivery in Dallas as well as it its headquarters city of Bentonville, Arkansas. Including the expanded sites, Walmart said it will offer drone delivery services at a total of 100 stores. 'This expansion of our drone delivery service marks a significant milestone in that journey," Greg Cathey, senior vice president of Walmart U.S. Transformation and Innovation said in the release. "As the first retailer to scale drone delivery, Walmart is once again demonstrating its commitment to leveraging technology to enhance our delivery offerings with a focus on speed.' Could the tech reach your state? Drones are delivering medical supplies in Massachusetts Walmart encourages those looking to use drone deliveries in Atlanta, Charlotte, Houston, Orlando and Tampa to sign up on Wing to be notified of when the service becomes available in their market. For shoppers in the Dallas-Fort Worth area, Walmart said you can check your eligibility here. Walmart and other big businesses including Amazon began using drone delivery in recent years. Walmart began testing drone delivery in 2020 and the following year, the company announced it invested in drone company DroneUp. Since then, the retailer has continued to offer drone deliveries to more markets and customers. Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@ and follow her on X @nataliealund. This article originally appeared on USA TODAY: Walmart drone delivery coming to 5 new US cities: See list Sign in to access your portfolio
Yahoo
07-06-2025
- Business
- Yahoo
Walmart to expand drone delivery to 5 more cities
This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. Walmart is expanding its drone delivery program with Wing to five new cities over the next year, enabling the initiative to reach millions of new customers, the two companies announced Thursday. Thirty minutes-or-less drone delivery will become available for customers near one of 100 Walmart locations in Atlanta, Houston, Charlotte, North Carolina, and the Florida cities of Orlando and Tampa. New market launches will occur in the coming months, with the rollout to be complete "by this time next year," according to Wing. Wing's drones can deliver up to six miles from the stores they launch from. Wing confirms the recipient's precise delivery location — such as a backyard — at checkout, after which the drone will transport the payload from the store to its destination. The expansion builds upon Walmart's yearslong push to implement drones in its supply chain, making more than 150,000 deliveries with the technology since 2021. The retailer appears bullish on drones' ability to transport nearby orders quickly, despite regulatory and operational hurdles for widespread adoption. 'As we look ahead, drone delivery will remain a key part of our commitment to redefining retail," Greg Cathey, senior vice president of Walmart U.S. transformation and innovation, said in the retailer's announcement. "We're pushing the boundaries of convenience to better serve our customers, making shopping faster and easier than ever before." Wing, a subsidiary of Google parent company Alphabet, is a key partner in Walmart's efforts. Wing drones already make deliveries out of 18 Walmart locations in the Dallas-Fort Worth area, covering nearly 2 million people. The two companies complete thousands of weekly deliveries together, with an average fulfillment time under 19 minutes, according to Wing. Shoppers in upcoming drone delivery markets can sign up on Wing's website to be notified when the program will launch in their area. Thousands of items will be available for eligible shoppers to order, including fresh produce and household essentials, Wing said. Walmart said its customers are often using drone delivery for food and ingredients they forgot to buy during their weekly grocery trip, along with urgent-care items like cold medicine and baby formula. Recommended Reading Walmart, Uber share food delivery innovation strategies Sign in to access your portfolio
