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(Reuters) -Dell raised its long-term revenue and profit growth forecasts on Tuesday, signaling robust demand for its servers that power artificial intelligence workloads, sending its shares up nearly 7% in premarket trading. Insatiable demand for computing power needed to train and run generative AI products such as ChatGPT has driven strong demand for companies including Dell and Super Micro Computer. Dell now expects compounded annual revenue growth between 7% and 9%, up from its prior forecast of 3% to 4%. The company also raised its expectations for annual growth in adjusted earnings per share to at least 15%, nearly double its previous target of 8%. "Customers are hungry for AI and the compute, storage and networking we provide to deploy intelligence at scale," CEO Michael Dell said in a statement. (Reporting by Jaspreet Singh in Bengaluru; Editing by Tasim Zahid)

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By Enes Tunagur LONDON (Reuters) -Oil prices were steady on Tuesday as investors assessed a smaller than expected increase to OPEC+ output in November against a backdrop of possible oversupply. Brent crude futures rose 9 cents, or 0.14%, to $65.56 a barrel by 1154 GMT. U.S. West Texas Intermediate crude gained 8 cents, or 0.13%, to $61.77. Oil prices are holding up, with the market looking if higher oil inventories on water will translate into rising OECD oil stocks, while preliminary data from India pointed to strong oil demand in September, said UBS analyst Giovanni Staunovo. Both contracts settled more than 1% up in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers, together known as OPEC+, decided to increase collective oil production by 137,000 barrels per day (bpd), starting in November. The move was in contrast to market expectations for a more aggressive increase, a sign that the group remains cautious in light of predictions for a global supply surplus in the fourth quarter as well as next year, said ING analysts. On the demand side, India's fuel demand rose by 7% year on year in September, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. On the supply side, JP Morgan said that global oil inventories, including crude stored on water, have risen every week in September, adding 123 million barrels during the month. China, meanwhile, is building oil reserves sites at a rapid clip as part of a campaign to boost stockpiles, according to public data, traders and industry experts. Geopolitical factors have kept a floor under prices, with conflict between Russia and Ukraine affecting energy assets and creating uncertainty over Russian crude supply. Russia's Kirishi oil refinery halted its most productive distillation unit after a drone attack and subsequent fire on October 4, with recovery likely to take about a month, two industry sources said on Monday. (Reporting by Enes Tunagur in London, Anjana Anil in Bengaluru and Siyi Liu in SingaporeEditing by Kim Coghill, Clarence Fernandez and David Goodman)

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(Reuters) -McCormick on Tuesday beat expectations for third-quarter sales and profit, aided by resilient demand for its higher-priced spices and seasonings even as macroeconomic uncertainty loomed over consumer spending. U.S. consumers are shifting away from dining out and increasingly turning to home-cooked meals and meal prep routines, stocking up on pantry staples including McCormick's Sunshine Seasoning and Brown Butter Finishing Salt. However, the company lowered its annual profit forecast due to rising commodity costs triggered by global trade uncertainty and tariffs. It now expects annual adjusted earnings per share to be in the range of $3 to $3.05, compared with its prior forecast of $3.03 to $3.08. While the Cholula hot sauce maker's expansion efforts, including the recent move of raising its stake in a Mexico joint venture, have boosted its global presence, they have also exposed it to higher tariff risks. "Amid rising inflation from higher commodity costs and tariffs, we continue to invest in our growth plans, supported by our cost savings initiatives, which strengthen our resilience and differentiated fundamentals," CEO Brendan Foley said in a statement. Shares of the company were marginally down at $68.12 in volatile premarket trading. The stock has fallen about 10% this year. Apart from higher input costs, the company's margins came under pressure from expenses related to brand marketing and technology investments. Its third-quarter gross profit margin contracted 130 basis points after expanding 170 basis points a year ago. Conagra Brands also beat quarterly expectations, and flagged margin pressures as earlier trade and tariff benefits fade. For the quarter ended August 31, McCormick posted net sales of $1.72 billion, compared with analysts' estimates of $1.71 billion, according to data compiled by LSEG. Its adjusted profit per share of 85 cents topped estimates of 82 cents. (Reporting by Sanskriti Shekhar and Anuja Bharat Mistry in Bengaluru; Editing by Maju Samuel)

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