Summary: Elon Musk plans more job cuts across Tesla Inc. as two senior executives leave the company.
Full articleSummary: Starbucks (SBUX 0.18%) reported a tough quarter with disappointing performance driven by various challenges including consumer caution, weather impact, and intense price competition in China. The company addressed its action plans to counterbalance headwinds and accelerate investment in execution engines. The growth opportunities are seen in meeting demand across dayparts, launching new products, and providing more value for customers. Starbucks remains committed to its long-term growth strategy and financial health.
Full articleSummary: BlackRock has invested millions in Chinese military-linked companies sanctioned by the U.S. government despite ESG policies, sparking concerns over potential war preparation and human rights abuses. BlackRock's joint venture with China Construction Bank and MSCI's role in the investments were also highlighted in the report.
Full articleSummary: The U.S. government's auto safety agency is investigating whether Tesla's Autopilot recall has effectively ensured driver attention, following reports of 20 more crashes involving Autopilot since the recall. The investigation will focus on the updates provided post-recall and the system's effectiveness in preventing accidents.
Full articleSummary: HSBC, PayPal, IBM, and Australian Payments Plus have joined a new working group led by EPAA to protect payments from the threat of quantum computers by exploring quantum-safe cryptography, following a warning from DTCC about the vulnerability of current encryption methods.
Full articleSummary: Alpha Cubed Investments LLC increased its position in American Tower Co., Institutional investors continue to make changes in their positions for AMT, American Tower stock traded down 2.0% on Tuesday
Full articleSummary: Medtronic plc (NYSE:MDT) traded down 0.3% during mid-day trading on Tuesday with 1,020,355 shares traded hands, a decline of 84% from the average session volume. Several research firms have provided ratings and price targets for MDT, with a consensus rating of 'Hold' and a consensus target price of $94.91. Medtronic announced a quarterly dividend and had recent insider selling activities.
Full articleSummary: Samsung surpassed Apple to become the world's highest-volume seller of smartphones in the first quarter, with Samsung shipping 60 million units and Apple shipping 48.7 million units. The worldwide smartphone market grew 10% year-over-year in Q1 to reach 296.2 million units, attributed to refreshed portfolios and macroeconomic stabilization.
Full articleSummary: Big customers are spending again on cloud computing after a pause, leading to better-than-expected sales at Amazon, Microsoft, and Alphabet's cloud units. Growth in cloud infrastructure market fueled by AI investments, driving stock prices to record highs.
Full articleSummary: Bristol Myers Squibb (BMY) stock has returned -15.8% over the past month compared to Zacks S&P 500 composite's -2.5%. Analysts expect a decrease in earnings for the current quarter and fiscal year but a significant increase for the next fiscal year. The stock is rated Zacks Rank #3 (Hold) and is considered to be trading at a discount to its peers based on valuation metrics.
Full articleSummary: Tesla's Semi program is expanding as it conducts new testing phases with Sysco and Martin Brower, defying production challenges and exceeding performance expectations with its innovative electric transport solutions.
Full articleSummary: Eli Lilly reported impressive financials in its latest earnings report, with a 26% increase in revenue fueled by diabetes treatments and GLP-1 drugs. The company's net income surged 67% to $2.2 billion, and EPS rose by 66% to $2.48. Lilly raised its full-year revenue guidance by $2 billion, citing potential growth from key medications.
Full articleSummary: Microsoft's motivation for investing in and partnering with OpenAI stemmed from a fear of falling behind Google in the AI field. An internal email from the company's CTO highlighted concerns about the gap in AI model-training capabilities between Microsoft and Google.
Full articleSummary: Comcast Corp. expects to lose access to 15 Bally regional sports networks in a fee dispute with Diamond Sports Group. Comcast offers customers $8 to $10 per month in credits if the channels are unavailable. Diamond stated Comcast rejected terms offered to other distributors.
Full articleSummary: PayPal executives emphasized plans to reignite growth in branded checkout products after raising its forecast for full-year profit. The company's stock had struggled due to fears of competition from Apple and Google in digital payments.
Full articleSummary: The European Union is investigating Facebook and Instagram for suspected violations of the bloc's digital rulebook, including not doing enough to protect users from foreign disinformation ahead of EU-wide elections. Meta Platforms, the parent company, is under investigation for breaching the Digital Services Act. The investigation also includes concerns about Meta's content moderation system for advertisements and the decision to phase out Crowdtangle.
Full articleSummary: Google has announced a $1 billion project to construct three new undersea cables connecting Hawaii to key locations in the Pacific region, improving the state's high-speed internet connectivity. Hawaii is set to receive additional federal funding for internet infrastructure upgrades.
Full articleSummary: The Illinois Department of Commerce has awarded approximately $328 million in Round 3 of the Connect Illinois broadband funding program to 21 entities, with Jo-Carroll Energy Co-op and ProTek Communications being the biggest winners.
Full articleSummary: ASL, a Chinese board partner of Nvidia, has introduced a new pink graphics card, the RTX 4060, in collaboration with SupremoCat, a Chinese cartoon brand. The card is available for purchase in the US for $341.66, featuring a unique kawaii design with cat and pug characters.
Full articleSummary: Coca-Cola recorded net gains of $293 million from refranchising bottling operations in India in the March quarter. Despite a slow start, the company expects a strong year ahead for its India business. It has divested bottling operations in Rajasthan, Bihar, North-East, and select areas of West Bengal to independent bottlers in India.
Full articleSummary: Starbucks shares dropped more than 8% in after-hours trading due to lower-than-expected earnings and falling same-store sales worldwide.
Full articleSummary: Elon Musk makes the decision to terminate two top executives from Tesla as part of cost reduction and headcount actions, laying off hundreds more staff members.
Full articleSummary: BlackRock and Saudi Arabia’s Sovereign Wealth Fund signed an MoU to establish a Riyadh-based multi-asset class investment platform with an initial investment mandate of up to US$ 5 billion from Saudi Arabia's Public Investment Fund, aimed at driving foreign institutional investment into Saudi Arabia and enhancing the local asset management industry.
Full articleSummary: Federal investigators have initiated a probe into Ford's Blue Cruise technology following fatal accidents involving Mustang Mach E models using the system. The NHTSA's Office of Defects Investigation is looking into the accidents to evaluate Blue Cruise's role and performance in the incidents.
Full articleSummary: Boeing reported Q1 results above street estimates with revenue of $16.6 billion and an adjusted loss of $1.13 per share. The stock has faced a notable decline of 25% in 2024 due to ongoing 737 MAX issues. However, the company is expected to recover, with a target valuation of $228 per share.
Full articleSummary: Google Ads will automatically pause low-activity keywords, starting in June, to focus on keywords that drive results.
Full articleSummary: Diamond Sports Group and Comcast failed to reach an extension on their carriage rights deal, leading to Comcast customers losing access to Bally Sports regional sports networks. Diamond will continue to seek a new deal with Comcast, while Comcast customers can access Bally Sports through other providers such as Fubo and DirecTV.
Full article