Summary: Federal Reserve indicated that the next move on rates will probably be a cut, leading to a mixed market reaction with gains in Dow Jones Industrial Average and declines in S&P 500 and Nasdaq.
Full articleSummary: New York Life Investment Management LLC decreased its position in Danaher Co. (NYSE:DHR) by 16.4% during the 4th quarter, while several other institutional investors increased their stakes. Wall Street analysts have a positive outlook on DHR, with price target increases and buy ratings. Insider selling activity has also been reported. DHR stock traded up slightly and the company recently announced an increased quarterly dividend.
Full articleSummary: Shares of General Electric (NYSE:GE) fell 1.6% on Wednesday after trading as low as $158.96. The company last traded at $159.16 with 1,571,572 shares changing hands during mid-day trading, a decline of 80% from the average session volume. Several equities analysts have issued reports on General Electric, with two investment analysts rating the stock as hold and thirteen as buy. Despite the fall in share price, the company reported better-than-expected earnings results with a return on equity of 12.54% and a net margin of 5.05%. General Electric also increased its quarterly dividend. Insider selling activity has been reported recently.
Full articleSummary: Negotiations between Comcast and Bally Sports' operator Diamond Sports Group have broken down following a dispute over terms, affecting fans of several MLB teams. Diamond has reached deals with Charter and Cox, and DirecTV said it reached a deal with Diamond to continue carrying the networks.
Full articleSummary: Thermo Fisher Scientific extends its $3.1 billion bid to purchase Olink Holding shares until June 18, with 94.3% of shares already tendered. Olink operates in the proteomics field and is projected to generate $200 million in revenue by 2024.
Full articleSummary: Catalogic Software announced details of ECX 2.2, the next release of its award-winning product scheduled for release in September, which delivers major enhancements to copy data management, including in-place copy data management support for major IBM storage platforms.
Full articleSummary: Medtronic plc (NYSE:MDT) traded up 0.6% during mid-day trading on Wednesday. Several analysts have recently increased their price targets and ratings for the stock. The company also recently announced a quarterly dividend. Insiders have been selling shares of the stock. Institutional investors have been modifying their holdings of Medtronic.
Full articleSummary: Coca-Cola (KO) reported first-quarter FY24 sales growth of 3% year-on-year, beating analyst estimates. Various analysts have reiterated their ratings and price targets for the company based on its strong performance and updated FY24 guidance.
Full articleSummary: JPMorgan analyst Vivek Juneja provides positive outlook for banks like Bank of America Corp and Fifth Third Bancorp, driven by expectations of a recovering economy and sustained high interest rates.
Full articleSummary: Investors are turning away from BlackRock Bitcoin ETF towards ETFSwap (ETFS) due to its decentralized nature and enhanced features, leading to decreasing daily inflows for BlackRock iShares Bitcoin Trust (IBIT). ETFSwap (ETFS) is gaining popularity as a smart contract-driven platform that allows users to have total control of their assets, avoid management fees, and trade swiftly between cryptocurrencies and ETF products. Investors anticipate 10-100X gains from the first presale of ETFSwap (ETFS) token.
Full articleSummary: Lawsuit filed against Facebook parent Meta Platforms Inc. argues that users should have the right to control what they see on their feeds, even to the extent of shutting it off entirely.
Full articleSummary: Citigroup raised 3M's target price to $100.00 with a neutral rating, suggesting a 0.72% potential upside. Various other analyst reports and ratings indicate a mixed sentiment towards the stock. 3M recently reported earnings above estimates for the quarter.
Full articleSummary: Google, a subsidiary of Alphabet Inc., dismissed almost 50 employees who staged protests at company offices in April over the company's cloud project with Israel, dubbed Project Nimbus. The sacked workers filed a complaint with the US NLRB Board, accusing Google of infringing on their labour rights under US labour law. Google stated that it terminated employees involved in disruption inside their buildings.
Full articleSummary: Coca-Cola HBC beat market forecasts for first quarter revenue and expects operating profit to rise this year due to strong demand for its products and successful pricing adjustments.
Full articleSummary: Nvidia stock's fantastic 10-year return: from $5,000 to nearly $1 million, driven by tremendous revenue and profit growth especially in the data center platform fueled by AI adoption.
Full articleSummary: Charles Schwab unveiled the 2024 Charles Schwab Challenge Champion’s Prize, a fully restored 1975 Schwab Stingray, along with various programming elements, initiatives, and tributes for the upcoming PGA TOUR event in Fort Worth, Texas.
Full articleSummary: Google has laid off staff across key teams like Flutter, Dart, Python, affecting a total of 200 people working on 'Core' teams, with some jobs being shifted to India and Mexico. Affected employees will be able to apply for other open roles at Google. Google confirmed layoffs but not specific details.
Full articleSummary: A pension fund for New York City employees is urging BlackRock's shareholders to vote against the election of Saudi Aramco's chief executive as a director due to potential conflicts of interest and human rights concerns. BlackRock's ties with Saudi Arabia have been growing stronger as it announced a new investment platform backed by up to $5 billion from the kingdom's sovereign wealth fund. This news comes ahead of BlackRock's annual meeting on May 15, where Nasser's election is being contested.
Full articleSummary: Coca-Cola Co reported first-quarter FY24 sales growth of 3% year-on-year to $11.3 billion, beating analyst consensus estimate. Various analysts have reiterated their ratings on the company and provided price targets.
Full articleSummary: Alphabet's (GOOGL) earnings beat and new AI narrative led to a gap up beyond buy range, securing a spot on the IBD Breakout Stocks Index. Several components of the index are forming new setups, with some stocks trading in or near new bases or buy zones. The IBD Breakout Opportunities ETF (BOUT) now trades below its 50-day moving average, tracking companies on the Index.
Full articleSummary: Apple is expected to launch new iPads at an event on May 7, including new iPad Pros with OLED displays and a 12.9-inch iPad Air. The entry-level iPad and iPad Mini updates are anticipated later in the year with processor bumps.
Full articleSummary: CVS Health has acquired startup Medicare Advantage broker Hella Health to add insurance offerings and digital capabilities for seniors to its technology platform. The terms of the deal were not disclosed.
Full articleSummary: Bitcoin has plunged in tandem with Nvidia and other AI-related stocks, prompting concerns about stagflation and potential postponement of rate cuts by the US Federal Reserve. Despite seeing record discounts in Bitcoin ETFs, the largest cryptocurrency is still up roughly 36% on a year-to-date basis.
Full articleSummary: PayPal Holdings, Inc. (NASDAQ: PYPL) misses on earnings expectations with reported EPS of $0.828 versus expectations of $1.2. The company delivered 10% revenue growth in the first quarter with non-GAAP earnings per share increasing by 27% year-over-year. PayPal projects full-year EPS to grow mid to high single digits and continues to focus on operational improvements and efficiency enhancements.
Full articleSummary: The freight transport market is expected to grow rapidly, from $31.53 billion in 2023 to $35.42 billion in 2024, and reaching $55.26 billion in 2028. The growth is fueled by globalization, e-commerce industry expansion, and advancements in autonomous vehicles and sustainable transport.
Full articleSummary: New York City pension fund urges BlackRock shareholders to vote against Saudi Aramco CEO as director due to conflicts of interest and human rights concerns. BlackRock defends Nasser's independence and expertise. Proxy advisors recommend votes 'for' BlackRock's nominees.
Full articleSummary: Honeywell released its 2024 USB Threat Report focusing on 'silent residency' cyber threats targeting critical infrastructure and industrial facilities.
Full article