Summary: Nvidia Corp. completes the acquisition of Israeli companies Run:ai and Deci AI for a total of $1 billion, which will add 250 employees to their Israeli workforce. This move is expected to strengthen Nvidia's position in the AI chip market and enhance their product offerings through innovative technologies developed by the acquired companies.
Full articleSummary: Samsung and Intel team up to launch the first AI AIO PC, All-in-One Pro, to compete with Apple's iMac and expand their AI end-user ecosystem. The PC features the Intel AI processor 'Core Ultra' and various AI functions.
Full articleSummary: Wells Fargo & Company announced a quarterly common stock dividend of $0.35 per share, payable on June 1, 2024.
Full articleSummary: NVIDIA is using its AD103 GPU in new GeForce RTX 4070 graphics cards by repurposing defective GPU dies from more powerful GPUs, potentially indicating the end of its Ada Lovelace generation.
Full articleSummary: Consumer spending is picking up with increased spending on services, travel, and e-commerce. Delta Air Lines and JPMorgan Chase reported better-than-expected first-quarter earnings.
Full articleSummary: Capital One Financial reported first-quarter earnings falling short of analyst forecasts as the bank faced rising defaults by borrowers, leading to an increase in net charge-offs for uncollectible loans and higher reserves for anticipated loan losses.
Full articleSummary: Disney is expected to have a busy month ahead including a passholder celebration at Disney World, financial update in May, and theatrical releases of Kingdom of the Planet of the Apes and Young Woman and the Sea.
Full articleSummary: Sandoz AG settles patent dispute with Amgen Inc related to denosumab biosimilars, clearing the way for the launch of Jubbonti and Wyost by May 31, 2025. Sandoz received FDA approval for these biosimilars on March 5, 2024.
Full articleSummary: Raymond James Financial Services Advisors Inc. increased its stake in Medtronic plc in the 1st quarter by 1.4%, with a total of 2,852,849 shares worth $248,626,000. Several other hedge funds and institutional investors also added to their positions in the company. Medtronic stock experienced a decrease of 0.8% in trading on Tuesday.
Full articleSummary: Chevron Corporation and Hess Corporation moving forward with planned merger despite Exxon Mobil Corp's arbitral proceedings over Stabroek oil block ownership in Guyana, Chevron to acquire Hess's assets, both companies aim to complete merger by middle of the year, resolution expected in coming months, Chevron-Hess deal valued at $53 billion.
Full articleSummary: MLB faced complaints from players and fans regarding new uniform changes, with a focus on larger lettering on jerseys. Nike, the supplier of uniforms, was blamed for unnecessary innovations. Nike reported steady revenue growth in the third quarter of fiscal 2024, with notable increases in wholesale revenues.
Full articleSummary: Federal judge dismisses putative class action against Medtronic over implantable cardioverter defibrillator, due to lack of injury-in-fact and preemption by FDA regulations.
Full articleSummary: 1. Tesla's CEO Elon Musk dismisses two senior executives and reportedly plans to lay off hundreds more employees due to falling sales and pace of job cuts. 2. NHTSA opens a preliminary investigation into Ford's BlueCruise hands-free driving tech following two fatal crashes involving Mustang Mach-E electric crossovers. 3. Volkswagen Group posts a 20% drop in first-quarter operating profit due to lower sales and higher costs as it prepares for new models.
Full articleSummary: Today's Research Daily provides an update on Q1 earnings season with 267 S&P 500 members reporting, showing earnings up +3.1% and revenues up +3.9%. Noteworthy reports include Apple facing headwinds, Walmart benefiting from diverse business, and Chevron gaining +3.5% shares in a year despite challenges in the oil sector.
Full articleSummary: Wells Fargo shareholders approve plans for executive compensation with CEO Charlie Scharf's 2023 package set at $29 million. The bank is investing in risk and control infrastructure after a 2016 scandal, and the asset cap imposed by regulators remains in place.
Full articleSummary: Moderna has initiated litigation against BioNTech and Pfizer related to mRNA technology patents. The Patent Trial and Appeal Board of the USPTO has instituted Inter Partes Review for the patents challenged by BioNTech and Pfizer. A final written decision for the Inter Partes Review is expected by March 19, 2025. Judge Richard G. Stearns granted BioNTech and Pfizer's motion to stay the district court litigation pending the resolution of the Inter Partes Review.
Full articleSummary: ProPetro Services has signed a 3-year contract with ExxonMobil for electric hydraulic fracturing fleets, showcasing a significant moment in collaboration to provide innovative, cost-effective, and environmentally friendly energy service solutions.
Full articleSummary: Tech giants such as Microsoft, Meta, Google, and others are intensively focused on capital expenditures to invest in cloud and AI infrastructure. Microsoft's CapEx rose by 79% to $14 billion in the March quarter, and CFO Amy Hood indicated further growth in the upcoming fiscal year. Google and Meta also reported significant CapEx increases fuelled by AI investments.
Full articleSummary: Alphabet Inc. (GOOG) is experiencing a noticeable improvement in its earnings outlook, with analysts raising their earnings estimates for the company, causing a positive momentum in the stock. The Zacks Rank system considers Alphabet a 'Strong Buy', indicating a promising investment opportunity.
Full articleSummary: Comcast Co. has been assigned a consensus rating of 'Moderate Buy' from twenty-one brokerages. Ten analysts rated the stock as hold while eleven rated it as buy. The average 1 year price target is $49.60.
Full articleSummary: After Meta rolled out its own AI integration on platforms like Facebook and Instagram, many users have found the unsolicited presence of AI functionality to be annoying, and are looking for ways to turn it off.
Full articleSummary: The U.S. Food and Drug Administration has approved full approval for TIVDAK for the treatment of patients with recurrent or metastatic cervical cancer after chemotherapy, based on positive results from innovaTV 301 clinical trial. Pfizer Inc. (PFE) and Genmab A/S (GMAB) announced this approval.
Full articleSummary: Coca-Cola reported Q1 earnings beating Wall Street estimates, with revenue at $11.3 billion and earnings per share at $0.72. The company updated organic revenue growth outlook, citing inflation deceleration, and the stock is down 3% in the past year.
Full articleSummary: BlackRock and the Public Investment Fund (PIF) of Saudi Arabia announced a partnership to establish an investment platform in Riyadh, with PIF committing up to $5 billion. The platform, named BlackRock Riyadh Investment Management (BRIM), will focus on various asset classes and aims to attract local and international investors.
Full articleSummary: Tesla CEO Elon Musk laid off two senior executives and plans to fire hundreds more employees amid declining sales. The company will also dissolve its public policy team. Musk emphasized the need for hard core headcount and cost reduction.
Full articleSummary: Stocks traded lower on the eve of a key Federal Reserve policy meeting, with the Dow plunging by 1.2% and all three major indexes poised to record their first monthly loss in six. Labor costs rose in the first quarter, potentially delaying an interest rate cut in 2024. US consumer confidence deteriorated in April.
Full articleSummary: Eight major daily newspapers, including Chicago Tribune and New York Daily News, sued OpenAI and Microsoft for using copyrighted work without compensating content owners.
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