Summary: A lawsuit filed against Meta Platforms Inc. argues that users should have the right to control their feed with external tools. The lawsuit seeks to enable users to filter out objectionable content on social media platforms.
Full articleSummary: U.S. stocks traded higher with Dow Jones gaining over 200 points. Pfizer reported better-than-expected first-quarter financial results. CytomX Therapeutics, Inc. shares surged 148%.
Full articleSummary: Negotiations between Comcast and Bally Sports' operator Diamond Sports Group broke down following a dispute over terms, leading to a blackout for fans of 11 MLB teams. The blackout adds pressure to the regional sports network business that has been struggling as consumers opt for streaming over pay-TV subscriptions.
Full articleSummary: Federal Reserve maintains interest rates amid battle with inflation, indicating a lack of further progress in reaching 2% inflation target. Chairman Powell emphasized that inflation is still too high but hinted that the next move is unlikely to be a rate hike. Fed plans to ease pace of reducing bond holdings on balance sheet.
Full articleSummary: A U.S. judge has dismissed a challenge by Bristol Myers Squibb and Johnson & Johnson against a law requiring them to negotiate prices of their key blood clot prevention drugs with the Medicare health insurance program or face heavy penalties, Reuters reports.
Full articleSummary: Many fast-food chains, like Starbucks, Pizza Hut, and KFC, are facing declining same-store sales, while outliers such as Wingstop and Chipotle Mexican Grill are still performing well amid price increases in the industry. The competition for customers has intensified as consumers become choosier with their spending.
Full articleSummary: Chevron reported its First Quarter 2024 financial results with a decrease in revenue, net income, profit margin, and EPS compared to the same period in 2023. However, the EPS beat expectations while revenues fell short. Analysts expect a decline in revenue for the next 3 years while the Oil and Gas industry in the US is expected to grow.
Full articleSummary: Home Depot's popular supersized Halloween decoration, Skelly, and its new eerie additions have already sold out ahead of the holiday, causing a stir among eager shoppers. The company plans to release more limited quantities this summer after the initial sell-out.
Full articleSummary: Bitcoin and the wider crypto market experienced a significant drop due to risk-off sentiment and concerns about slower growth and inflation in the U.S.
Full articleSummary: Costco shoppers are reconsidering buying raw chicken breast due to the discovery of 'spaghetti meat' which appears stringy, squishy, and mutated, causing unease among consumers.
Full articleSummary: Amazon (AMZN) shares are higher after the company's first-quarter earnings topped expectations, with net sales rising 13% year-over-year. Other big names reporting earnings today include Pfizer (PFE), CVS (CVS), Mastercard (MA), Qualcomm (QCOM), Etsy (ETSY), and MGM Resorts (MGM).
Full articleSummary: Texas Instruments has updated its Q1 revenue guidance to a range of $2.80 billion-$2.91 billion, and narrowed per-share earnings range to $0.28-$0.32, compared to previous estimates. The company has not provided a detailed explanation for the revised figures yet.
Full articleSummary: BlackRock is leading a $47 million funding round for Securitize, a company focused on tokenizing real-world assets. The investment includes appointing BlackRock's Joseph Chalom onto Securitize's board of directors.
Full articleSummary: Comcast has dropped Bally Sports channels from its lineup after failing to reach an agreement with Diamond Sports, impacting Twins fans who are unable to watch games. The dispute stems from a pricing tier disagreement between Diamond and Comcast.
Full articleSummary: Pfizer declined to provide specifics on its metabolic pipeline and obesity treatments during an investor call, instead focusing on once-daily administration of danuglipron. The company has metabolic candidates in the clinic and preclinical pipeline, with plans to stay active in the obesity space.
Full articleSummary: The Federal Reserve left interest rates unchanged due to concerns about stubborn inflation, signaling a potential longer period of high interest rates. Fed officials are hesitant to reduce rates until they are more confident that inflation will decrease. Investors reacted positively to the announcement, with stocks rising and bond yields falling.
Full articleSummary: Nvidia unveiled the Blackwell GPU architecture at its GTC event, aiming to power a new era of computing with transformative AI technology. The company's CFO sees a tipping point in the computing era with strong demand for its products.
Full articleSummary: Microsoft has confirmed NTLM authentication failures and high load on Windows Server after recent security updates, impacting many Windows versions including Windows Server 2022, Microsoft is still working on a fix and advises reaching out for support, Unofficial temporary fix involves uninstalling the security updates to alleviate NTLM authentication issues
Full articleSummary: OpenAI showcased its artificial intelligence video-generation model, Sora, to media industry executives, compared it with rival models Runway and Pika, and received positive feedback.
Full articleSummary: Coca-Cola shareholders are set to vote on a proposal urging the company to report on risks to employees stemming from the declining healthcare quality and restrictive public healthcare policies in Georgia, which could significantly impact their health and well-being.
Full articleSummary: Intel published a research paper in Nature demonstrating state-of-the-art uniformity, fidelity, and measurement statistics of spin qubits which paves the way for mass production of silicon-based quantum processors.
Full articleSummary: Starbucks, McDonald's, and KFC are facing lower financial performance and closures of struggling franchises due to boycotts over the Gaza war, with Starbucks experiencing a 4% drop in same-store sales and McDonald's reporting a modest increase in profits despite the continuance of boycotts.
Full articleSummary: US coffee and fast-food outlets like Starbucks, McDonald's, and KFC are experiencing lower than expected financial performances due to boycotts over the Gaza war. The boycotts are impacting sales in the Middle East and Muslim-majority countries, leading to closures and job cuts.
Full articleSummary: Boeing is threatening to lock out its union firefighters if a contract is not ratified by Saturday following a breakdown in negotiations with the International Association of Fire Fighters Local I-66. The union, representing firefighters at Boeing facilities in several locations, is seeking competitive pay and better staffing, while Boeing claims the union is not negotiating fairly. The company has filed an unfair labor practice charge with the National Labor Relations Board and is planning to use contingency plans if a strike occurs.
Full articleSummary: IBM successfully overturned a $1.6 billion judgment against them after an appeals court ruled that they were allowed to replace software on a customer's mainframe with their own code, despite initial allegations of violating an outsourcing agreement.
Full articleSummary: Microsoft spearheaded a $675 million Series B investment in Figure, and announced a partnership with Sanctuary AI to advance artificial general intelligence for robotics. Sanctuary focuses on designing humanoid robots capable of learning and reasoning like humans, with Microsoft aiming to unlock the next generation of AI models for general-purpose robots.
Full articleSummary: BlackRock is introducing LifePath Paycheck, a retirement program that combines target-date funds with annuities to provide employees with predictable fixed monthly payments, aiming to address the retirement crisis and help individuals secure a stable retirement income.
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