Summary: A group of eight US newspapers are suing OpenAI and Microsoft for allegedly using millions of copyrighted news articles without permission to train their AI chatbots.
Full articleSummary: Federal Reserve is expected to maintain interest rates, with focus on reducing bond holdings before ending quantitative tightening. Powell's tough stance on inflation suggests no rate cuts imminent. Market anticipates gradual rate cut in late 2024, although some analysts predict possibility of delay based on inflation data and potential tariff impacts.
Full articleSummary: Savers have the opportunity to earn elevated returns by opening long-term CDs as high yields are being offered, rates may rise slightly after the Federal Reserve meeting, and long-term CDs offer protection against economic uncertainties.
Full articleSummary: Amgen has been granted a patent for bispecific antigen binding proteins targeting human CGRP and PAC1 receptors to treat chronic pain, migraine, and cluster headaches. The patent includes specific antibody sequences. Additionally, Amgen's grant share for NSAID cancer drugs was 46% as of February 2024.
Full articleSummary: Intel Corp. shares are down more than 30% in April, making it their worst month in over 20 years due to struggles with turnaround execution. Despite a weak forecast and disappointing factory outlook, the company's prospects are expected to improve from here with revenue forecasted to rise. However, it remains one of the least favored stocks in the chip industry.
Full articleSummary: American Airlines is cutting flight schedules on international and Hawaii routes due to Boeing 787 Dreamliner delivery delays.
Full articleSummary: Eli Lilly's stock surged 5% after reporting strong sales of weight loss drug Zepbound in Q1 of 2024, leading to a 26% revenue growth year over year. The company raised its full-year revenue guidance for 2024 by $2 billion and is rapidly expanding manufacturing capacity to address shortages.
Full articleSummary: ExxonMobil asked the Fifth Circuit to overturn a National Labor Relations Board decision finding the oil giant unlawfully refused to bargain with a union.
Full articleSummary: Hedge funds have reduced their holdings of CVS Health Corporation by approximately 6.09% between the reporting periods of 12/31/2023 and 03/31/2024. 18 out of 31 recent 13F filers held positions in CVS.
Full articleSummary: The Investment Committee discuss the latest Calls Of The Day.
Full articleSummary: Honeywell announced a new hydrocracking technology for producing sustainable aviation fuel from biomass, which produces 3-5% more SAF, enables a cost reduction of up to 20%, and reduces by-product waste streams. The new technology can use leftovers from crops, wood waste, or food scraps to produce SAF with lower environmental impact.
Full articleSummary: McDonald's CEO mentioned that the company expects wage inflation nationwide due to higher minimum wage legislation in California, leading to labor inflation and price increases. Several fast-food chains in California closed some locations or raised prices in response to the new law.
Full articleSummary: Zacks Premium provides tools and insights for investors to make informed decisions. It includes Zacks Style Scores that rate stocks based on value, growth, and momentum qualities. Combining Zacks Rank with Style Scores can help in selecting high-potential stocks.
Full articleSummary: McDonald's reported slower comparable sales growth than anticipated, leading to a 2.4% drop in its stock. On the other hand, Coca-Cola raised its 2024 forecast after strong quarterly results, causing its stock to increase slightly.
Full articleSummary: Nvidia Corporation (NVDA) has experienced significant growth in fiscal year 2024 and is expected to continue with strong revenue and per-share earnings growth in fiscal year 2025. Technical analysis indicates the emergence of a Bull Flag pattern, suggesting a potential continuation of the bullish trend.
Full articleSummary: Starbucks missed Wall Street's estimates for its quarterly earnings and revenue, leading to an 8% drop in share price during extended trading.
Full articleSummary: Stock market experienced a rough day with Dow, S&P 500, and Nasdaq all closing lower as hotter-than-expected labor data increased speculation of no interest rate cuts by the Federal Reserve. Major companies like Amazon, Super Micro Computer, and Advanced Micro Devices set to release quarterly earnings. Tesla planning more layoffs. McDonald's shares were down after posting lower-than-expected sales, while Coca-Cola reported better-than-expected earnings due to an increase in prices. MicroStrategy reported a net loss but plans to buy more Bitcoin. Bitcoin and Ether also saw drops in value.
Full articleSummary: Nike does not plan to ditch entire Vapor Premier template despite MLBPA demands for six changes by 2025 season. Some players appreciate Nike's willingness to address concerns about uniforms. MLB and MLBPA have agreed on making necessary changes to uniforms before 2025 season starts.
Full articleSummary: Illinois Municipal Retirement Fund raised its position in JPMorgan Chase & Co. by 15.6% in the fourth quarter, making it the 17th biggest holding. The stock was worth $35,416,000 at the end of the quarter. Several other institutional investors also modified their holdings in JPM. Analysts have provided mostly positive ratings and target price upgrades for the stock. JPMorgan Chase & Co. has declared an increased quarterly dividend of $1.15.
Full articleSummary: New York State Common Retirement Fund decreased its holdings in JPMorgan Chase & Co. during the fourth quarter, while other large investors made modifications as well. Also, insiders have been actively selling company stock. Additionally, JPMorgan Chase & Co. announced an increase in its dividend and certain price target changes have been reported by analysts.
Full articleSummary: Microsoft (MSFT) posted strong quarterly earnings results, with revenue rising 17% year over year, cloud growth accelerating, other businesses generating stable growth, and margins expanding.
Full articleSummary: Despite a tough month of April, Dow Jones Industrial Average is still clinging to a slim 2024 gain. Investment giant Morgan Stanley suggests buying the dip on Apple Inc. (AAPL) and Intel Corporation (INTC) due to the AI-driven breakthroughs expected to revolutionize both companies’ trajectories.
Full articleSummary: Tesla is considering using the compute power in its vehicles to process workloads for cash, similar to Amazon Web Services. However, potential downsides include accelerated battery degradation and managing third-party code and data on private assets.
Full articleSummary: PayPal CEO Alex Chriss aims to boost Pay with Venmo options and streamline processes for enterprises and small businesses. The company posted stronger-than-expected first-quarter results, with total revenue up 9% and total payment volume up 14% year over year. In efforts to improve efficiencies, PayPal will be revamping core areas and is focusing on increasing revenue through branded checkout experiences.
Full articleSummary: Peacock, NBCUniversal's streaming service, will raise the prices of its premium plans by $2/month to capitalize on its streaming rights to the Olympic Games in Paris this summer. Despite the hike, the new prices will still be lower than competitors like Netflix, Hulu, and Warner Bros Discovery's Max. Peacock also added 3 million subscribers in the first quarter, bringing the total to 34 million.
Full articleSummary: BlackRock Inc. is set to receive up to $5 billion from Saudi Arabia’s sovereign wealth fund to invest in the Middle East and establish a investments team in Riyadh, showcasing the asset manager's efforts to expand in the region. The new entity, BlackRock Riyadh Investment Management, will focus on various asset classes with plans to tap into local and international investor funds.
Full articleSummary: Dow, Henkel Adhesive Technologies, and Kraton Corporation have collaborated to reduce the carbon footprint of Henkel's North American flagship products for end-of-line packaging. The reduced footprint is enabled by Kraton's SYLVALITE™ 2200 biobased tackifiers and Dow's AFFINITY™ GA polyolefin elastomers, resulting in lower emission formulations without additional cost to customers.
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