Summary: Microsoft is motivated to invest heavily and partner with OpenAI due to a competitive gap with Google in AI model-training capabilities.
Full articleSummary: Intel has issued new BIOS setting guidelines to address stability problems reported by users of its 13th and 14th Generation Core i9 processors, including in-game instability in Unreal Engine 5 titles, due to power consumption limits and other factors.
Full articleSummary: Oracle is launching the Autonomous Shield initiative to simplify and accelerate Oracle Health EHR migrations to OCI with enhanced cybersecurity measures for healthcare organizations.
Full articleSummary: JPMorgan Chase & Co. is hiring Alexander Mayer, head of Germany and Austria investment banking at Goldman Sachs Group Inc. Mayer is set to join JPMorgan in a senior capacity after spending nearly 25 years at Goldman. Goldman Sachs was the No. 3 adviser on German mergers and acquisitions over the past decade.
Full articleSummary: The Coca-Cola Company (KO) reported strong first-quarter results with earnings and revenue surpassing estimates. The company raised its fiscal year 2024 revenue growth outlook. However, caution is advised due to mixed analyst estimates, stretched valuation metrics, and uncertainty reflected in POWR Ratings.
Full articleSummary: Kraft Heinz Co.'s stock fell in premarket trading as the company only met profit expectations and fell short on sales. Prices increased at the slowest rate in 2.5 years, while volume declined at the lowest rate in about 2 years. Cost of products sold decreased more than sales, boosting gross margin.
Full articleSummary: Oracle announced new capabilities in Oracle Clinical One Randomization and Trial Supply Management (RTSM) to support complex and global clinical trial studies, empowering sponsors and CROs with quicker set-up and deployment times as well as enhanced flexibility and automation features.
Full articleSummary: Oracle announced new capabilities in Oracle Clinical One Randomization and Trial Supply Management (RTSM) to support complex and global clinical trial studies, making it easier for sponsors and CROs to configure, scale, and automate. The enhancements provide users with the ability to customize studies, automate randomization lists, modify distribution settings, create reconciliation forms, and more.
Full articleSummary: PayPal Holdings Inc reported better-than-expected sales for its first quarter, with a revenue growth of 9% year-over-year to $7.7 billion and total payment volumes increasing by 14%. Analysts have raised price targets on PayPal following the earnings announcement.
Full articleSummary: The Nasdaq 100 closed lower by more than 300 points with investors focusing on notable insider trades in companies such as Kimberly-Clark, Charles Schwab, Exxon Mobil, and United Rentals.
Full articleSummary: JPMorgan Chase & Co. is hiring Alexander Mayer, head of Germany and Austria investment banking at Goldman Sachs Group Inc., to join in a senior capacity in the bank’s Germany, Austria and Switzerland business.
Full articleSummary: American Tower (AMT) received a Buy rating from analysts at BMO Capital and Barclays, with price targets of $220.00 and $234.00 respectively. The company's strong operational performance, positive future outlook, robust first-quarter results, heightened carrier activity, diversified portfolio, and attractive valuation were cited as reasons for the Buy rating.
Full articleSummary: Barclays analyst Brendan Lynch maintained a Buy rating on American Tower (AMT) with a price target of $234.00, while the analyst consensus on the stock is a Strong Buy with an average price target of $222.77. Additionally, negative insider sentiment was reported on the stock due to an increase in insiders selling their shares.
Full articleSummary: Pfizer (PFE) stock surged after beating analysts' first-quarter earnings forecast and delivering better-than-expected sales on the back of Covid treatment Paxlovid. Sales from Paxlovid and Comirnaty exceeded expectations, while Vyndaqel sales also performed well. Pfizer's gross margin significantly improved in the first quarter, leading to an increase in earnings outlook for the year.
Full articleSummary: The S&P 500 failed right at the 50-day moving average, signaling a bearish opportunity for traders. Apple stock was down nearly 2% and could provide a bearish trade as it is down 11% year to date. An option strategy involving a bear put spread with a potential gain of $365 on Apple stock is discussed in the article.
Full articleSummary: Bank of America Corp. warns against options-powered ETFs, stating that simpler alternatives like dividend-focused ETFs may serve investors better. These derivatives-powered ETFs have quadrupled to $69 billion in assets, but have faced criticism due to underperformance in certain market conditions. High-dividend funds could offer similar yields as option income ETFs on a tax-adjusted basis.
Full articleSummary: Ford is recalling 243,000 Maverick small pickup trucks in the U.S. due to tail light issues, with no reported crashes or injuries related to the problem.
Full articleSummary: Bank of America Corp. warns that exchange-traded funds using options may not provide as much value as simpler alternatives, such as dividend-focused ETFs. Popular products like JPMorgan Equity Premium Income ETF (JEPI) and Global X Nasdaq 100 Covered Call ETF (QYLD) have underperformed major indexes in recent times due to market conditions.
Full articleSummary: Ford is recalling nearly 243,000 Maverick small pickup trucks in the U.S. due to tail lights not illuminating properly. The issue is caused by a computer falsely detecting too much current on the tail lamps, which could increase the risk of a crash. No reports of crashes or injuries have been received. Dealers will update software to resolve the problem at no cost to owners.
Full articleSummary: NVIDIA is creating a new ecosystem of 'Premium' AI PCs powered by its RTX hardware, offering significantly higher performance than AI-capable NPUs, aiming to further strengthen its position in the AI PC market.
Full articleSummary: NVIDIA is developing a new ecosystem of 'Premium' AI PCs with RTX hardware, offering significantly faster AI performance than NPUs, aiming to cater to various workloads including gaming, content creation, and productivity.
Full articleSummary: Intel has secured high-value deals with esports teams and series, including Riot Games, JD Gaming, and Global Esports, generating $8.85 million from only three deals in the APAC region. The brand's partnership with Riot Games is the most profitable in the region. Asian brands, particularly from East Asia, dominate the tech sector spend in APAC, with a strong focus on esports investments.
Full articleSummary: The Dow Jones Industrial Average and other major stock indexes fell as Wall Street awaited the Federal Reserve's interest rate decision and Jerome Powell's comments. Amazon, AMD, and Super Micro Computer had mixed results after reporting earnings. The 10-year Treasury yield ticked lower, and oil prices dropped. Fed chief Powell set to speak at 2:30 p.m. ET. ADP reported private employers added 192,000 jobs in April, above estimates.
Full articleSummary: Starbucks cuts annual forecasts due to weak demand in the United States and slow recovery in China, leading to a 14% drop in shares. Severe weather in the U.S. and the Israel-Hamas war also negatively impact sales.
Full articleSummary: Dave Clark, the executive who transformed Amazon.com Inc's delivery operations, is stepping down as chief executive of the online retailer's consumer business after 23 years with the company. The departure marks a changing of the guard at Amazon amid a string of management exits and efforts to address economic challenges such as overcapacity and rising costs.
Full articleSummary: BlackRock's strategic investment in Securitize and commitment to crypto underscores the growing interest in the tokenization of real-world assets, paving the way for a transformation in capital markets infrastructure. Securitize's compliance-first approach has attracted major financial firms like BlackRock and Hamilton Lane, with plans to expand licenses and explore launching tokens on new blockchains. The focus on tokenized securities represents a safer bet for established firms amidst regulatory uncertainties surrounding products like stablecoins.
Full articleSummary: Phraction Management LLC increased its stake in Thermo Fisher Scientific Inc. by 32.8% during the 4th quarter, making it their 5th biggest holding, with total holdings worth $14,577,000. Several other institutional investors have also significantly raised their holdings in TMO, including International Assets Investment Management LLC, Loomis Sayles & Co. L P, Van ECK Associates Corp, Rathbones Group PLC, and Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Thermo Fisher Scientific has a consensus rating of 'Moderate Buy' with an average target price of $607.35. The company recently reported Q1 earnings beating estimates, with a net margin of 14.20% and a return on equity of 18.45%. They also raised their quarterly dividend to $0.39, representing a yield of 0.27%.
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