Summary: Duff & Phelps Investment Management Co. increased its stakes in Simon Property Group by 160.1% during the fourth quarter, owning 763,371 shares worth $108,887,000. Several other large investors have also made changes to their positions in the company. Wall Street analysts forecast further growth for Simon Property Group. The company's stock price declined by 3.0% to $140.53.
Full articleSummary: Tesla is cutting additional jobs including two top executives, after already trimming its workforce by 10%. The CEO emphasized the need for hard-core headcount and cost reduction in a leaked email.
Full articleSummary: Federal appeals court overturns $1.6 billion judgment requiring IBM to pay rival BMC Software after finding IBM improperly replaced BMC's mainframe software at AT&T with its own.
Full articleSummary: Paramount Global and Charter Communications have extended their talks on a deal renewal, preventing Paramount's networks from going dark on Charter's systems. The deal renewal negotiations are crucial for Paramount Global, which is currently undergoing leadership changes and facing declining ratings and revenue.
Full articleSummary: Wells Fargo is downsizing its space in Downtown Jacksonville's Wells Fargo Center, reducing from over 100,000 square feet to less than 50,000 square feet by October 2024. The owners are negotiating for a new anchor tenant and considering a new name for the building.
Full articleSummary: A Costco shopper came up with a genius shopping cart upgrade that includes a tray for food, drink, and phone, as well as a retractable stand for the receipt.
Full articleSummary: American Tower Corporation reported financial results for the first quarter of 2024, with total revenue increasing by 2.4% to $2,834 million. The company's net income surged by 192.6% to $922 million, and adjusted EBITDA rose by 5.2% to $1,854 million. American Tower forecasts continued growth and value creation throughout 2024 and beyond, supported by strong performance and customer demand.
Full articleSummary: Repertoire entered a strategic collaboration with Bristol Myers Squibb to develop tolerizing vaccines for autoimmune diseases, receiving significant upfront payment and milestone payments. Repertoire will lead activities up to development candidate nomination.
Full articleSummary: PepsiCo's share price dropped 0.2% during mid-day trading, but received positive outlook from analysts with a 'Moderate Buy' rating and an average target price of $187.42. The company reported strong earnings results, beating estimates with a revenue growth of 2.3%. PepsiCo also announced an increased quarterly dividend, now at $1.355 per share.
Full articleSummary: Elon Musk dismisses two Tesla senior executives, plans to lay off hundreds more employees due to falling sales and pace of job cuts, including dissolution of Tesla's public policy team. Musk emphasizes on the need for strict cost reduction measures.
Full articleSummary: Intuit (NASDAQ:INTU) has outperformed the market over the past 15 years by 12.25% on an annualized basis with an average annual return of 24.26%. Intuit currently has a market capitalization of $176.71 billion.
Full articleSummary: Bank of New York Mellon experienced a decrease in short interest, reported better-than-expected quarterly earnings, and announced a quarterly dividend. Wall Street analysts foresee growth potential for BK stock.
Full articleSummary: Coca-Cola Co. reported better-than-expected first-quarter results with revenue growth of 3% reaching $11.3 billion and adjusted earnings of 72 cents a share surpassing the FactSet consensus of 70 cents.
Full articleSummary: Intuit Inc. will announce its third-quarter financial results for fiscal year 2024 on May 23 after the close of the market. Executives will discuss the results on a conference call at 1:30 p.m. Pacific time on the same day.
Full articleSummary: Dow Jones stock futures ticked lower after McDonald's, Coca-Cola, and 3M reported Q1 results. 3M shares broke out, McDonald's missed earnings, and Coca-Cola raised its revenue outlook.
Full articleSummary: Disney confirmed its openness to having a SunRail station at Disney Springs as part of the proposed Sunshine Corridor, which could benefit Walt Disney World. The corridor would also include stops at Orlando International Airport, near the Orange County Convention Center, and South International Drive.
Full articleSummary: Nelson Peltz, a famous venture capitalist and philanthropist, is actively involved in a high-stakes battle to take control of Disney due to his disagreement with the company's commitment to diversity in blockbuster movies. Peltz, with a personal fortune over $1.5 billion, aims to reshape Disney's direction and has the support of influential figures like Elon Musk.
Full articleSummary: R1 RCM Inc. (NASDAQ: RCM) will present at the 2024 Bank of America Securities Health Care Conference on May 16, 2024, at 11:00am ET.
Full articleSummary: A Tesla owner faced a costly battery replacement issue after her 2013 Model S battery failed, leading to a repair bill of $18,000. Despite the battery being deemed too old for insurance coverage, she found a repair option for $2,500. Tesla refused to return her old battery or compensate her, threatening to sell her car if she did not pay the repair bill.
Full articleSummary: Bristol Myers Squibb is expanding its expertise in CAR T cell therapy from cancer to autoimmune diseases like severe lupus and multiple sclerosis, aiming to provide innovative one-time treatment options for these patients. The company is exploring the use of CD-19 targeted CAR T cell therapy to potentially 'reset' the immune system and has shown promising early results in a proof-of-concept trial for severe lupus.
Full articleSummary: Repertoire Immune Medicines entered a strategic collaboration with Bristol Myers Squibb to develop tolerizing vaccines for autoimmune diseases, with an upfront payment of $65 million and potential milestones up to $1.8 billion. The collaboration aims to reset the immune system selectively through Repertoire's DECODE platform and lipid nanoparticle delivery technology.
Full articleSummary: Elon Musk's decision to lay off 500 employees in Tesla's electric vehicle charging station division raises concerns about the future of the largest U.S. charging network, including potential implications for agreements with other automakers.
Full articleSummary: Wamsi Mohan from Bank of America Securities maintained a Buy rating on Amphenol with a price target of $137.00, while Citi also maintained a Buy rating on the stock with a $135.00 price target. The company's shares closed at $122.13 yesterday.
Full articleSummary: Starbucks reported weaker performance in China and the U.S. as same-store sales declined in both markets, leading to lower revenue expectations for the year and a 12% drop in stock price in after-hours trading.
Full articleSummary: Tesla's Supercharger plans are being pulled back after Elon Musk fired the charging team, resulting in canceled leases for upcoming locations in New York.
Full articleSummary: Caterpillar seeks workers and provides hands-on tour for high school students at their Brooklyn Park campus to expose manufacturing opportunities and career profiles in the industry.
Full articleSummary: Paramount Global and Charter Communications Inc. agreed to extend contract renewal talks, preventing Paramount channels from going dark on Charter's Spectrum service.
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