Tech Earnings Season Starts Soon. Warnings Are Already Piling Up
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,581,977 (+0.10%)       Melbourne $970,512 (+0.23%)       Brisbane $885,023 (+0.03%)       Adelaide $813,016 (+0.20%)       Perth $760,003 (-0.11%)       Hobart $733,438 (-1.28%)       Darwin $643,022 (-0.79%)       Canberra $970,902 (+1.87%)       National $1,000,350 (+0.23%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $721,725 (+0.37%)       Melbourne $488,237 (-0.76%)       Brisbane $495,283 (+1.37%)       Adelaide $404,022 (-2.77%)       Perth $405,420 (-0.69%)       Hobart $498,278 (-1.60%)       Darwin $339,700 (-0.58%)       Canberra $480,910 (-0.04%)       National $502,695 (-0.26%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 10,626 (-230)       Melbourne 15,220 (+56)       Brisbane 8,417 (-24)       Adelaide 2,720 (-9)       Perth 6,897 (+56)       Hobart 1,234 (+5)       Darwin 281 (+5)       Canberra 1,079 (-30)       National 46,474 (-171)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,563 (-253)       Melbourne 8,007 (-12)       Brisbane 1,824 (-34)       Adelaide 493 (-16)       Perth 1,902 (-1)       Hobart 176 (+4)       Darwin 388 (-7)       Canberra 858 (+2)       National 22,211 (-317)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $775 (-$5)       Melbourne $570 ($0)       Brisbane $600 ($0)       Adelaide $580 (+$10)       Perth $625 (-$5)       Hobart $550 ($0)       Darwin $690 (-$10)       Canberra $680 ($0)       National $642 (-$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $730 ($0)       Melbourne $550 ($0)       Brisbane $625 ($0)       Adelaide $460 (+$10)       Perth $580 (+$5)       Hobart $460 (+$10)       Darwin $550 ($0)       Canberra $560 (-$5)       National $576 (+$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,654 (+231)       Melbourne 5,764 (+128)       Brisbane 4,271 (-9)       Adelaide 1,259 (+101)       Perth 1,944 (+50)       Hobart 337 (-36)       Darwin 168 (+19)       Canberra 647 (+18)       National 20,044 (+502)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,121 (+505)       Melbourne 6,022 (+34)       Brisbane 2,066 (+18)       Adelaide 366 (+1)       Perth 600 (-5)       Hobart 138 (-17)       Darwin 306 (+12)       Canberra 736 (+20)       National 19,355 (+568)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.55% (↓)       Melbourne 3.05% (↓)       Brisbane 3.53% (↓)     Adelaide 3.71% (↑)        Perth 4.28% (↓)     Hobart 3.90% (↑)        Darwin 5.58% (↓)       Canberra 3.64% (↓)       National 3.34% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.26% (↓)     Melbourne 5.86% (↑)        Brisbane 6.56% (↓)     Adelaide 5.92% (↑)      Perth 7.44% (↑)      Hobart 4.80% (↑)      Darwin 8.42% (↑)        Canberra 6.06% (↓)     National 5.96% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.7% (↑)      Melbourne 0.8% (↑)      Brisbane 0.4% (↑)      Adelaide 0.4% (↑)      Perth 1.2% (↑)      Hobart 0.6% (↑)      Darwin 1.1% (↑)      Canberra 0.7% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.4% (↑)      Brisbane 0.7% (↑)      Adelaide 0.3% (↑)      Perth 0.4% (↑)      Hobart 1.5% (↑)      Darwin 0.8% (↑)      Canberra 1.3% (↑)      National 0.9% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 28.0 (↑)      Melbourne 29.2 (↑)        Brisbane 30.6 (↓)       Adelaide 23.8 (↓)     Perth 34.2 (↑)      Hobart 29.4 (↑)      Darwin 39.9 (↑)      Canberra 28.2 (↑)      National 30.4 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 29.4 (↑)      Melbourne 29.6 (↑)        Brisbane 30.3 (↓)       Adelaide 22.5 (↓)       Perth 39.2 (↓)     Hobart 26.1 (↑)        Darwin 36.1 (↓)     Canberra 34.4 (↑)        National 31.0 (↓)           
Share Button

Tech Earnings Season Starts Soon. Warnings Are Already Piling Up

By Eric J. Savitz
Wed, Oct 18, 2023 9:58amGrey Clock 2 min

With tech earnings season about to start, investors should be aware that a flurry of the industry’s less-followed players have been warning about emerging weakness across the enterprise and telecommunications-networking landscape.

Evercore ISI hardware analyst Amit Daryanani, speaking Tuesday on Barron’s Live, noted that heading into earnings he has concerns about weakness in IT enterprise spending, continued soft demand from communications carriers, and continued caution by consumers. The primary bright spot he sees heading into earnings: spending on cloud and AI infrastructure.

The list of companies providing cautious commentary on the outlook is growing by the day.

NetScout Systems stock (ticker: NTCT) is down 17% on Tuesday after the cybersecurity software company slashed its revenue forecast for its March 2024 fiscal year to a range of $840 million to $860 million, down from a previous forecast of $915 million to $945 million. NetScout also trimmed its adjusted profit per share forecast for the year to $2 to $2.20, down from $2.20 to $2.32. The company said it is seeing “slower order conversion,” due to “industry and economic headwinds facing our customers” that began in September.

Ericsson American depositary receipts (ERIC) are 3.3% lower after the networking infrastructure company on Tuesday provided disappointing financial guidance. “We expect the underlying uncertainty impacting our Mobile Networks business to persist into 2024,” the company said.

Adtran (ADTN), which provides networking hardware, on Monday warned that it now sees third-quarter revenue of $272.3 million, below its previous guidance range of $275 million to $305 million. Adtran said that its “customers remain focused on reducing inventory levels and managing capital expenses.”

Late last week, Belden (BDC), another network infrastructure provider, said it now sees third-quarter revenue of $625 million, down from a previous forecast of $675 million to $690 million. “Demand began to weaken in the third quarter, adding to ongoing pressure from channel destocking,” Belden said in its announcement. “We believe softer demand will continue as we move into the fourth quarter, impacting both revenue and profitability.”

A10 Networks (ATEN), which also provides networking infrastructure, likewise provided September quarter preliminary results that failed to match previous estimates. “In our third quarter we experienced delays related to North American service provider customers pushing out capital expenditures,” the company said earlier this month. “Deals we expected to close at the end of the quarter were delayed into future periods.”

Cambium Networks (CMBM), which provides wireless-network infrastructure, said earlier this month that it now sees third quarter revenue of $40 million to $45 million, below previous guidance of $62 million to $70 million. The company cited a number of reasons for the big miss, including a delay in government orders due to U.S. government budgetary timing issues, and a decrease in orders from distributors in the company’s enterprise business, among other things.

Tech earnings season kicks off Wednesday with results from Netflix (NFLX), to be followed by a deluge of financial reports next week from Alphabet (GOOGL), Microsoft (MSFT), International Business Machines (IBM), Meta Platforms (META), ServiceNow (NOW), Amazon.com (AMZN), Intel (INTC), and Juniper Networks (JNPR), among others.



MOST POPULAR

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Related Stories
Money
The Embarrassment of Having to Explain Your ‘Monster’ Diamond Ring
By ALINA DIZIK 11/12/2023
Money
What Your Friends Can Teach You About Money
By JULIA CARPENTER 10/12/2023
Money
Apple Aims to Make a Quarter of the World’s iPhones in India
By RAJESH ROY 09/12/2023
The Embarrassment of Having to Explain Your ‘Monster’ Diamond Ring

Couples find that lab-grown diamonds make it cheaper to get engaged or upgrade to a bigger ring. But there are rocky moments.

By ALINA DIZIK
Mon, Dec 11, 2023 4 min

Wedding planner Sterling Boulet has some advice for brides-to-be regarding lab-grown diamonds, which cost a fraction of the natural ones.

“If you’re trying to get your man to propose, they’ll propose faster if you offer this as an option,” says Boulet, of Raleigh, N.C. Recently, she adds, a friend’s fiancé “thanked me the next three times I saw him” for telling him about the cheaper lab-made option.

Man-made diamonds are catching on, despite some lingering stigma. This year was the first time that sales of lab-made and natural mined loose diamonds, primarily used as center stones in engagement rings, were split evenly, according to data from Tenoris, a jewellery and diamond trend-analytics company.

The rise of lab-made stones, however, is bringing up quirks alongside the perks. Now that blingier engagement rings—above two or three carats—are more affordable, more people are dealing with the peculiarities of wearing rather large rocks.

An engagement ring made with a lab-grown diamond at Ada Diamonds in New York City. PHOTO: CAM POLLACK/THE WALL STREET JOURNAL

Esther Hare, a 5-foot-11-inch former triathlete, sought out a 4.5-carat lab-made oval-shaped diamond to fit her larger hands as a part of her vow renewal in Hawaii last year. It was a far cry from the half-carat ring her husband proposed with more than 25 years ago and the 1.5-carat upgrade they purchased 10 years ago. Hare, 50, who lives in San Jose, Calif., and works in high tech, chose a $40,000 lab-made diamond because “it’s nuts” to have to spend $100,000 on a natural stone. “It had to be big—that was my vision,” she says.

But the size of the ring has made it less practical at times. She doesn’t wear it for athletic training and swaps in her wedding band instead. And she is careful to leave it at home when traveling. “A lot of times I won’t take it on vacation because it’s just a monster,” she says.

The average retail price for a one-carat lab-made loose diamond decreased to $1,426 this year from $3,039 in 2020, according to the Tenoris data. Similar-sized loose natural diamonds cost $5,426 this year, compared with $4,943 in 2020.

Lab-made diamonds have essentially the same chemical makeup as natural ones, and look the same, unless viewed through sophisticated equipment that gauges the characteristics of emitted light.

At Ritani, an online jewellery retailer, lab-made diamond sales make up about 70% of the diamonds sold, up from roughly 30% two years ago, says Juliet Gomes, head of customer service at the company, based in White Plains, N.Y.

Ritani sometimes records videos of the lab-diamonds pinging when exposed to a “diamond tester,” a tool that judges authenticity, to show customers that the man-made rocks behave the same as natural ones. We definitely have some deep conversations with them,” Gomes says.

Not all gem dealers are rolling with these stones.

Philadelphia jeweller Steven Singer only stocks the natural stuff in his store and is planning a February campaign to give about 1,000 one-carat lab-made diamonds away free to prove they are “worthless.” Anyone can sign up online and get one in the mail; even shipping is free. “I’m not selling Frankensteins that were built in a lab,” Singer says.

Some brides are turned off by the larger bling now allowed by the lower prices.When her now-husband proposed with a two-carat lab-grown engagement ring, Tiffany Buchert, 40, was excited about the prospect of marriage—but not about the size of the diamond, which she says struck her as “costume jewellery-ish.”

“I said yes in the moment, of course, I didn’t want it to be weird,” says the physician assistant from West Chester, Pa.

But within weeks, she says, she fessed up, telling her fiancé: “I think I hate this ring.”

The couple returned it and then bought a one-carat natural diamond for more than double the price.

Couples find that lab-grown diamonds have made it more affordable to get engaged. PHOTO: CAM POLLACK/THE WALL STREET JOURNAL

When Boulet, the wedding planner in Raleigh, got engaged herself, she was over the moon when her fiancé proposed with a 2.3 carat lab-made diamond ring. “It’s very shiny, we were almost worried it was too shiny and was going to look fake,” she says.

It doesn’t, which presents another issue—looking like someone who really shelled out for jewellery. Boulet will occasionally volunteer that her diamond ring came from a lab.

“I don’t want people to think I’m putting on airs, or trying to be flashier than I am,” she says.

For Daniel Teoh, a 36-year-old software engineer outside of Detroit, buying a cheaper lab-made diamond for his fiancée meant extra room in his $30,000 ring budget.

Instead of a bigger ring, he got her something they could both enjoy. During a walk while on an annual ski trip to South Lake Tahoe, Calif., Teoh popped the question and handed his now-wife a handmade wooden box that included a 2.5-carat lab-made diamond ring—and a car key.

She put on the ring, celebrated with both of their sisters and a friend, who was the unofficial photographer of the happy event, and then they drove back to the house. There, she saw a 1965 Mustang GT coupe in Wimbledon white with red stripes and a bow on top.

Looking back, Teoh says, it was still the diamond that made the big first impression.

“It wasn’t until like 15 minutes later she was like ‘so, what’s with this key?’” he adds.

MOST POPULAR

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Related Stories
Money
Accounting For The Cost Of Going To Work
By Chelsea Spresser 07/11/2023
Money
Green Investors Were Crushed. Now It’s Time to Make Money.
By JAMES MACKINTOSH 06/12/2023
Money
Sam Altman’s Counter-Rebellion Leaves OpenAI Leadership Hanging in the Balance
By Berber Jin 20/11/2023
0
    Your Cart
    Your cart is emptyReturn to Shop