Summary: Rising cost for health insurers impacts CVS Health's Q1 profit, leading to a decrease in stock price.
Full articleSummary: Starbucks CEO cuts annual guidance for a third straight quarter after the company's worst performance since the pandemic, with declines in all geographic segments including China.
Full articleSummary: US futures slid as traders weighed Amazon's earnings beat against Starbucks and McDonald's misses. The Federal Reserve is set to provide an update on the likely trajectory of interest rates.
Full articleSummary: ConocoPhillips is set to release Q1 earnings with analysts predicting earnings per share of $2.04, lower than the previous year. Sales estimates for the fiscal year are expected to increase compared to the prior year.
Full articleSummary: Apple releases the fourth beta of watchOS 10.5 update to developers for testing, but content remains undisclosed.
Full articleSummary: Van ECK Associates Corp acquired a new stake in shares of Caterpillar Inc., and multiple other institutional investors and hedge funds also recently modified their holdings of CAT. There have been dividend announcements and insider buying and selling activities related to Caterpillar. Additionally, analysts have set new price targets for the stock.
Full articleSummary: International Business Machines Co. (IBM) shares fell 8.25% following Q1 2024 earnings report missing consensus estimates, acquisition of HashiCorp for $6.4 billion, and growth in software segment. Bank of America reiterated a Buy rating but lowered target price to $209 from $220.
Full articleSummary: Henkel Adhesive Technologies, Kraton Corporation, and Dow have collaborated to reduce the carbon footprint of Henkel's hot melt adhesive formulas for end-of-line packaging by 25% through the use of biobased alternatives like Kraton's REvolution rosin ester technology and Dow's AFFINITY GA polyolefin elastomers. The TECHNOMELT formulations promise the same performance as legacy designs but with lower emissions and no additional cost to existing customers.
Full articleSummary: Starbucks (SBUX) missed second quarter earnings expectations with lower revenue, earnings, and same-store sales growth due to decreased customer visits and order sizes. The stock opened 14% lower after the results were released, reporting a revenue drop of 2% year over year to $8.6 billion and adjusted earnings per share down 8% to $0.68. The CEO highlighted challenges with macro headwinds, declining foot traffic, and the need for supply chain improvements.
Full articleSummary: Eli Lilly and Company partners with Indiana Fever to address health disparities in Indianapolis and statewide. The partnership focuses on improving health equity in Indiana communities.
Full articleSummary: Starbucks (SBUX) stock plunged over 15% after missing top- and bottom-line expectations for fiscal Q2 and reducing full-year outlook. Revenue decreased by 2% to $8.6 billion and EPS by 14% to 68 cents. Global comparable-store sales dropped by 4%.
Full articleSummary: Dubai Aerospace Enterprise (DAE) Capital to receive around half the number of aircraft from Boeing this year than originally committed, with only one aircraft delivered in the first quarter.
Full articleSummary: NextEra Energy Partners (NEP) is listed as one of the most searched stocks on Zacks.com. It belongs to the Alternative Energy - Other industry, which has gained 11.2% in the past month. The company is expected to post positive earnings with a Zacks Rank #2 (Buy) and solid revenue growth estimates.
Full articleSummary: The Federal Reserve may curtail its quantitative tightening program by as much as half, which could be bullish for riskier investments like stocks and bonds. The Fed officials are expected to lower the rate of QT to $30 billion, half of where it currently sits. Savvy traders are getting excited about this potential decision by the Fed.
Full articleSummary: Microsoft has announced plans to invest $1.7bn in artificial intelligence and cloud services in Indonesia to train 840,000 people in the use of AI and support tech developers. This is the biggest investment by Microsoft in nearly three decades in the Southeast Asian country.
Full articleSummary: IBM has expanded the capabilities of its ESG data collection, analysis, and reporting platform IBM Envizi to help organizations meet the reporting requirements of the EU’s Corporate Sustainability Reporting Directive (CSRD), requiring companies to provide detailed sustainability disclosures according to European Sustainability Reporting Standards (ESRS).
Full articleSummary: Cannell & Co. decreased its stake in FedEx Co. by 2.9% in the 4th quarter, according to the company's most recent SEC filing. Other institutional investors and hedge funds have also made changes to their positions in FedEx. FedEx stock traded down 0.5% on Wednesday. Wall Street analysts have provided mixed ratings on FedEx, with a consensus of 'Moderate Buy'.
Full articleSummary: PepsiCo (PEP) is being closely monitored on Zacks.com with a positive 2.6% return over the past month compared to the market. The company is expected to post strong earnings for the current and next fiscal years. Its Zacks Rank #2 (Buy) indicates a positive direction in the near term.
Full articleSummary: PepsiCo (PEP) has been one of the most searched-for stocks on Zacks.com lately. Analysts are positive about the company's future direction based on strong earnings estimates, revenue growth, last reported results, and valuation metrics. PepsiCo is rated Zacks Rank #2 (Buy).
Full articleSummary: IBM and Riken are collaborating to install a 133-qubit IBM Quantum System Two on-site at the Riken Center for Computational Science in Kobe, Japan, to create a hybrid architecture with the Fugaku supercomputer. This partnership aims to advance quantum-HPC hybrid computing and develop integrated utilization technology for quantum and supercomputers.
Full articleSummary: Coca-Cola Company earned USD 290 million from India in the March quarter through refranchising its bottling operations to existing bottlers, leading to net gains of USD 293 million from the refranchising in certain territories in India; While unit case volume grew in India, Asia Pacific saw a decline of 2% with growth in some countries offset by a decline in China; Globally, the Coca-Cola Company's net revenue for the March quarter grew 2.9% to USD 11.3 billion and organic revenues grew 11%.
Full articleSummary: Coca-Cola exceeded revenue expectations in the first quarter by posting $11.30 billion, thanks to a 13% price increase across products, and also signed a deal with Microsoft for cloud-computing software Azure. The company believes its success is due to right strategies, clear alignment, a powerful portfolio, and strong execution.
Full articleSummary: Community banks in Illinois are urging regulators to crack down on large banks for failing to prevent check fraud, resulting in financial losses and damage to business customers. The responsibility is on large banks for allowing fraudulent accounts to be opened and failing to promptly reimburse small banks for check fraud losses.
Full articleSummary: Bitcoin is trading in a tight range, down about 10% for the week and at its lowest level since February. Investors are anxiously awaiting the Federal Reserve's interest rate decision.
Full articleSummary: 1. Apple has launched OpenELM, its first open-source AI model focused on language generation. The model comes in different sizes and is trained on CoreNet with 1.8 trillion tokens. Accessible on Hugging Face and GitHub. 2. Snowflake introduced Arctic, an enterprise-grade large language model of 17 billion parameters that is cost-effective and optimized for code generation. Available on Hugging Face and various cloud providers. 3. Microsoft released Phi-3 Mini, a small language model with 3.8 billion parameters that excels in reasoning and coding tasks, with a context window of up to 128K tokens. Accessible via Azure AI Studio, Hugging Face, and Ollama.
Full articleSummary: Bank of America Corp. warns against investing in exchange-traded funds that use options to boost yields, citing simpler alternatives might serve investors better. Strategies that involve trading options alongside stocks have underperformed in the recent market rally. High-dividend ETFs and dividend-focused ETFs are seen as providing superior returns compared to options-based ETFs.
Full articleSummary: NextEra Energy (NEE) has been listed as one of the most searched stocks on Zacks.com, with a positive month-to-date return compared to the S&P 500 composite. Analysts are closely monitoring the company's earnings estimates, revenue growth forecast, reported results, and valuation metrics to gauge its future performance.
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