Summary: Starbucks (SBUX) shares plummeted following disappointing second quarter guidance, CFO cites decline in sales due to drop in occasional customers and plans to focus on digital initiatives like rewards program and in-app offers to drive sales.
Full articleSummary: American stocks were mixed on Wednesday as earnings season continued, Moody's stock price has plunged by over 8% ahead of its earnings, Booking Holdings (BKNG) stock price has plunged by more than 12.50% and DraftKings (DKNG) stock price crashed by over 14%.
Full articleSummary: Stocks were mixed on Wednesday as earnings season continued and investors awaited the latest Federal Reserve decision. Some companies reported positive earnings surprises while others experienced significant stock price movements. Moody's (MCO) stock price plunged ahead of earnings, while Booking Holdings (BKNG) and DraftKings (DKNG) also saw declines in their stock prices.
Full articleSummary: Microsoft Corp. signs the biggest corporate clean-energy purchase agreement with Brookfield Asset Management's green energy arm, acquiring more than 10.5 gigawatts of renewable energy capacity in the US and Europe as it ramps up investment in artificial intelligence.
Full articleSummary: Google has indexed inaccurate infrastructure-as-code samples produced by Pulumi AI, leading to inaccurate and non-functional AI-generated content appearing at the top of search results. Pulumi has acknowledged the issue and plans to rectify the situation by removing AI-generated content and ensuring it complements existing documentation. Despite ongoing efforts, Google continues to rank Pulumi AI content highly, prompting concerns from developers.
Full articleSummary: DA Davidson analysts issued Q2 2024 EPS estimates for Caterpillar, forecasting $5.80 per share, with a full-year earnings consensus estimate of $21.57 per share. The company recently reported $5.60 earnings per share for Q2 and had a return on equity of 58.61%.
Full articleSummary: HSBC analyst Rajesh Kumar maintained a Hold rating on Bristol-Myers Squibb (BMY) with a price target of $45.00, citing uncertainties posed by patent cliffs, IRA negotiations impact, challenges of new developments, lack of guidance on earnings trough year, reinvestment affecting near-term earnings, and cautiousness about IRA price negotiations. Barclays also maintained a Hold rating on the stock with a $43.00 price target.
Full articleSummary: Comcast and Diamond Sports failed to reach an agreement on carriage fees, resulting in Xfinity pulling Bally Sports Detroit off its cable lineup, impacting Tigers fans and leading to alternative viewing options. Diamond Sports blamed Xfinity for the situation, and Comcast cited flexibility in negotiations.
Full articleSummary: Global Wealth Management Investment Advisory Inc. and other institutional investors boosted their holdings in Chevron during the fourth quarter. Chevron's stock experienced a 1.1% decrease in value. Chevron also announced a quarterly dividend, and Wall Street analysts have given varying ratings to the stock, with an average rating of 'Moderate Buy'. In insider transactions, VP Alana K. Knowles sold shares of Chevron.
Full articleSummary: Caterpillar Inc. (NYSE:CAT) is increasing its dividend from last year's payment to $1.30, resulting in a dividend yield of 2.1%, above the industry average. The company's earnings easily cover the distributions, with forecasted earnings per share growth of 39.4% next year. Caterpillar has a solid track record of stable dividend payments with consistent growth, making it a great dividend stock.
Full articleSummary: Eli Lilly and Co. sponsors a patch on Indiana Fever jerseys to raise awareness of health issues and promote their brand through activations and theme nights throughout the season. The partnership aims to close gaps on health outcomes in Indianapolis and the state.
Full articleSummary: Alphabet Inc., the parent of Google, warned employees about the use of chatbots like Bard due to the risk of information leakage. The concern also reflects security standards for AI chatbots set by other companies. Google is launching Bard in over 180 countries, with safeguards against entering confidential or sensitive information.
Full articleSummary: Eli Lilly and Company has reported strong Q1'24 results with sales growing primarily from Mounjaro and Zepbound, causing the stock to trade at a high valuation multiple. The company guided up for the year, expecting EPS growth and strong sales growth exceeding $42 billion for the year.
Full articleSummary: Miami-based asset tokenization startup Securitize announced a $47 million fundraise led by BlackRock, alongside other investors like Hamilton Lane and ParaFi Capital.
Full articleSummary: Intel published research in Nature demonstrating high qubit control fidelity and uniformity in silicon-based quantum processors, enabling mass production and scaling of quantum computers.
Full articleSummary: Savant Capital LLC reduced its stake in RTX Co. by 7.6% in the fourth quarter, while other large investors made various changes to their positions. CEO Gregory Hayes and insider Shane G. Eddy sold significant amounts of RTX stock recently. RTX also reported strong quarterly earnings, beating estimates.
Full articleSummary: Gilead Sciences receives FDA approval for expanded indication of Biktarvy to treat pregnant people with HIV-1, with additional data reinforcing its safety and efficacy profile.
Full articleSummary: American Tower reported quarterly earnings results below analysts' consensus estimates, with a decrease in revenue. The company also updated its FY 2024 guidance lower than expected.
Full articleSummary: Susan Schwab, Director at Caterpillar CAT sold 12,881 shares worth $4,498,225 according to an SEC filing. Caterpillar stock is down by 0.91%. Financial overview highlights challenges in revenue growth but strong profitability metrics like high gross margin and EPS.
Full articleSummary: BlackRock led a $47 million funding round for tokenization firm Securitize, with other firms like Hamilton Lane and ParaFi Capital also participating. BlackRock's investment in Securitize is part of the company's digital assets strategy.
Full articleSummary: Companies are increasingly valuing worker feedback, but struggle with the volume of paperwork; some companies are hiring research experts like Emily Pelosi to analyze and leverage surveys into actionable insights. Pelosi, the 'head of employee listening' at Intuit, leads a team that gathers and analyzes employee sentiment data to help formulate talent strategies. Employee listening has evolved to include mechanisms for more continuous listening due to changes in work pace and global challenges.
Full articleSummary: Nvidia is facing challenges as GPUs are being surpassed by use-specific hardware, pointing towards a potential decline in demand and revenue. In contrast, Alphabet and Meta have more stable revenue streams and are predicted to overtake Nvidia in market cap by 2030.
Full articleSummary: Apple's annual Swift Student Challenge names 50 Distinguished Winners who will join WWDC '24, showcasing innovative and impactful app playgrounds inspired by personal experiences and family stories.
Full articleSummary: Nvidia's ChatRTX app has released its anticipated version 0.3 update. The update brings new features such as photo search capabilities, AI-powered speech recognition, and compatibility with more LLMs. The app showcases the power of AI with Nvidia's RTX graphics cards.
Full articleSummary: Vale and Caterpillar have signed an agreement to test battery electric large trucks and energy transfer systems, as well as conduct studies on ethanol-powered trucks, with the aim of reducing carbon emissions and achieving net zero emissions by 2050.
Full articleSummary: Pfizer (NYSE:PFE) reported impressive Q1 earnings that beat estimates, driven by higher sales excluding Paxlovid and Comirnaty. The company also raised its full-year EPS and revenue expectations, while working on a DTC platform to offer products directly to patients.
Full articleSummary: American Tower Corp. (NYSE:AMT) rose in premarket trading on Wednesday as Raymond James upgraded its rating on the stock, raised price target, and mentioned strong growth prospects over the next three years. AMT delivered a Q1 earnings beat and raised 2024 guidance.
Full article