Summary: Starbucks reported weaker-than-expected sales in its fiscal second quarter, with revenue dropping 2% to $8.6 billion, and same-store sales declining 4%. Net income also dropped 15% to $772 million, leading to a 10% drop in its shares in after-hours trading.
Full articleSummary: Delaware judge dismisses shareholder lawsuit against Meta regarding loyalty of corporate leaders and Mark Zuckerberg
Full articleSummary: Rick Rieder, BlackRock's chief investment officer of global fixed income, reiterated his call for two Federal Reserve rate cuts this year due to high core services inflation. He believes that if Powell sounds 'hawkish' on Wednesday, the stock market would likely trade down with a rise in Treasury yields.
Full articleSummary: Salesforce CEO Marc Benioff sold 15,000 shares of company stock in multiple transactions recently, while the stock traded down 2.5% on Tuesday after his latest sale. Additionally, Salesforce declared a quarterly dividend and has seen institutional inflows and outflows. Analyst ratings on Salesforce have generally been positive.
Full articleSummary: Air China signed an agreement to buy 100 domestically made C919 jets from Comac, challenging Boeing and elevating interest in the relatively new planes with a large price discount.
Full articleSummary: The stock market saw a sharp retreat with wariness heading into overnight earnings and ahead of the Fed meeting announcement. Major indexes hit resistance levels and experienced sell-offs with concerns over fresh inflation. Key earnings reports from companies like Amazon, Super Micro Computer, and Advanced Micro Devices were headlined, while the Fed meeting announcement and economic data awaited.
Full articleSummary: Ayers Career College announces partnership with CVS Health to support, train, and retain Pharmacy Technicians in Northwest Louisiana and the surrounding area, offering scholarships and training opportunities.
Full articleSummary: Tesla shares fell nearly 6% following news of CEO Elon Musk pressing ahead with more job cuts, including 500 employees in the Supercharger team. Layoffs are part of a cost-cutting measure following a significant revenue drop in the first quarter.
Full articleSummary: News Corp denied a report about a collaboration with Google to develop AI content, stating they have no AI content licensing deal with Google. The Information reported that Google would pay News Corp between $5-6 million annually for content development.
Full articleSummary: Tesla is rolling out the 2024.3.25 software update that includes High Fidelity Park Assist and Autopark, with some features exclusive to vehicles with AMD Ryzen chips, leaving those with Intel Atom processors missing out.
Full articleSummary: PayPal Holdings Inc. reports a 14% increase in payment volume in the first quarter, exceeding analysts' estimates, with total payment volume reaching $403.9 billion. The company expects adjusted earnings per diluted share to increase by a mid to high single-digit percentage in 2024.
Full articleSummary: Wells Fargo & Company (NYSE: WFC) announced a quarterly common stock dividend of $0.35 per share to be distributed on June 1, 2024, continuing its streak of consistent dividend payments and reflecting its financial resilience and commitment to returning value to shareholders.
Full articleSummary: ExxonMobil Guyana plans to increase the current output of 252,000 barrels per day from the FPSO vessel in Stabroek Block by making adjustments during a planned shutdown period, including installation of gas risers for a gas-to-shore energy pipeline.
Full articleSummary: IBM shares plunged after missing revenue estimates for Q1 and due to concerns over HashiCorp acquisition. Despite underperformance, IBM offers a 4% dividend yield and focuses on AI. Free cash flows are strong, but dividend growth has been slow. Analysts recommend holding with a target price 11.5% higher than current price.
Full articleSummary: NextEra Energy halts Timberwolf Solar Project near Taopi, Minnesota, causing uncertainty about project continuation.
Full articleSummary: Analyst raised price target for Nvidia (NVDA) stock to $1,125, citing expanding capital expenditures by cloud providers and big tech companies supporting AI growth.
Full articleSummary: Boeing faced challenges as a university partner decided to stop accepting donations, contributing to a slight drop in share price. The ongoing leadership struggles and cultural issues at Boeing are raising concerns.
Full articleSummary: Caterpillar is voluntarily delisting its shares from Euronext Paris and plans to delist from SIX Swiss Exchange by the end of 2024, remaining listed on the NYSE as its primary exchange.
Full articleSummary: The NHTSA is investigating two fatal collisions involving Ford's BlueCruise hands-free driving system, focusing on driver monitoring system and driving tasks.
Full articleSummary: Raymond James & Associates reduced its position in shares of FedEx Co. by 12.7% during the 1st quarter, with several other hedge funds also modifying their holdings of FDX. FedEx also recently declared a quarterly dividend and announced a stock repurchase program. Insider activity involved significant stock sales by company executives. Analysts have set various price targets for FDX, with an average rating of 'Moderate Buy'.
Full articleSummary: Elon Musk dismisses two senior Tesla executives and plans layoffs for hundreds more employees due to falling sales and slow pace of job cuts. This comes amidst struggles with intensifying price wars and a decrease in quarterly revenue.
Full articleSummary: Alphabet's Director sold 80 shares of Class C Capital Stock totaling $13,390.
Full articleSummary: Starbucks missed expectations for Q2 earnings, posting lower than expected revenue, earnings, and same store sales growth. Its global same-store sales declined 4%, with shares down over 12% in after hours trading. The company revised its 2024 outlook, expecting a low single-digit decline to flat for same-store sales.
Full articleSummary: Paramount Global extended carriage negotiations with Charter Communications, the Spectrum owner and No. 1 pay TV operator in the U.S., preventing a disruption to programming. The talks coincide with ongoing merger discussions with David Ellison’s Skydance Media.
Full articleSummary: Wells Fargo shareholders approve CEO compensation hike to $29 million for 2023. The bank is investing in risk and control infrastructure following a 2016 scandal involving fraudulent accounts. Citigroup CEO notes U.S. consumers are making smaller purchases.
Full articleSummary: Top green energy stocks are expected to benefit from continued investment in decarbonizing the global economy over the next thirty years. Some of the top picks include NextEra Energy Inc (NEE) with significant growth in adjusted EPS and dividends, First Solar Inc (FSLR) focusing on thin-film solar panel production and contracts till 2030, Fluence Energy Inc (FLNC) offering energy storage products and expanding its reach globally, and Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI) providing capital for renewable energy projects.
Full articleSummary: Eli Lilly raised its annual sales forecast by $2 billion due to explosive demand for its weight-loss drug Zepbound and increased manufacturing capacity. The company's market value has surged above $700 billion, propelled by demand for obesity treatment and diabetes drug Mounjaro. Lilly expects significant production increases in the second half of the year to meet demand.
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