Summary: Wells Fargo shareholders elect 13 director nominees, including a new independent director, Fabian T. Garcia. Additionally, shareholders approve various proposals related to executive compensation and voting standards.
Full articleSummary: CVS Health is set to announce Q1 earnings with analysts expecting a profit of $1.70 on revenue of $89.2B. Investors are focusing on medical costs amid changes in Medicare Advantage program, with anticipated growth in the health services segment. Despite recent stock performance showing declines, analysts remain positive about the company's long-term growth potential.
Full articleSummary: Huawei Technologies Co. reported a 564% increase in net profit in the March quarter and a 37% rise in sales, showcasing its resilience and growth in the smartphone market in spite of US sanctions.
Full articleSummary: Wells Fargo announced preliminary voting results of its 2024 Annual Meeting of Shareholders, where shareholders elected 13 director nominees including a new independent director, Fabian T. Garcia. Shareholders also approved various proposals related to executive compensation and accounting firm appointment.
Full articleSummary: Pfizer and Genmab received FDA approval for their cervical cancer treatment, Tivdak, with projected market growth for cervical cancer treatment and diagnostics, indicating positive outlook.
Full articleSummary: Penobscot Investment Management Company Inc. reduced its stake in Honeywell International Inc. by 12.6% during the 4th quarter. Several hedge funds have also adjusted their positions in HON. Wall Street analysts have mixed ratings on HON, with recent upgrades and downgrades impacting price targets.
Full articleSummary: Costco customers are critiquing a packaging change for the retailer's prepared rotisserie chicken, claiming the need for double bagging defeats the purpose of reducing plastic usage. Some customers reported issues with leaking bags and soggy chicken. Speculations suggest the change might be to hide the use of smaller chickens or reduce costs.
Full articleSummary: Analysts from Bank of America Securities and Wells Fargo maintained a Buy rating on BridgeBio Pharma (BBIO). The average price target for the stock is $50.80, representing a 99.45% upside from the current price. Corporate insider sentiment is positive, with an increase in insiders buying shares of BBIO.
Full articleSummary: Eli Lilly, 3M, PayPal, McDonald's, Chegg, Tesla, NXP Semiconductor, Tenet Healthcare, Corning, Amkor Technology, Sysco, GE Healthcare Technologies, Yum China, Medifast, Coursera, Paccar, Paramount Global stocks reacted to earnings and revenue announcements, beating or missing expectations.
Full articleSummary: Eli Lilly, 3M, PayPal, McDonald's, Chegg, Tesla, NXP Semiconductor, Tenet Healthcare, Corning, Amkor Technology, Sysco, GE Healthcare Technologies, Yum China, Medifast, Coursera, Paccar, Paramount Global all made headlines in midday trading with varying stock movements.
Full articleSummary: The Federal Reserve is likely to keep interest rates unchanged for the next few months due to stubbornly higher inflation, as indicated by a fresh Employment Cost Index report.
Full articleSummary: Eli Lilly missed Wall Street consensus estimates on Mounjaro sales for Q1, but GLP-1 products contributed to 26% sales growth. The company raised full-year guidance by $2 billion. Access to weight-loss drug Zepbound increasing. Analysts optimistic about Lilly hitting new highs and market share growth compared to competitors.
Full articleSummary: Apple has been poaching AI experts from Google and has a secretive laboratory in Zurich focused on developing new AI models and products.
Full articleSummary: Apple has poached dozens of AI experts from Google and set up a secretive lab in Zurich to strengthen its global AI and machine learning team.
Full articleSummary: Emerson software assists Covestro in improving operational efficiency at its Barcelona facility for polyester production, resulting in increased availability, throughput, and reduced water and energy consumption.
Full articleSummary: Comcast-owned Peacock streaming service, ahead of Paris Olympics, will increase prices for premium plans by $2/month to leverage its streaming rights to the Olympic Games. Despite the price hike, Peacock's subscription plans remain lower than competitors like Netflix and Hulu. Peacock added 3 million subscribers in the first quarter.
Full articleSummary: Apple has launched new Beats Solo Buds, featuring truly wireless design, 18 hours battery life, $79.99 price, and various features but without Active Noise Cancellation or auto play/pause. The buds use a custom Beats chip for one-touch pairing, offer passive noise isolation, 'b' button for playback control, and support Fast Fuel for quick charging.
Full articleSummary: Lenovo is offering the MSI Suprim Liquid X GeForce RTX 4090 24GB video card for $1662.49 after applying a coupon code, which is lower than its usual price.
Full articleSummary: American Tower Corporation (NYSE: AMT) reported positive financial results for the quarter ended March 31, 2024, with growth in revenue, net income, Adjusted EBITDA, and AFFO per Share. The company's CEO emphasized strong performance and growth opportunities in various markets, including the U.S., Europe, and India.
Full articleSummary: Honeywell has enhanced its SAF production technology, expecting increased output and reduced costs.
Full articleSummary: Wells Fargo maintained Overweight rating on Chevron, increased price target to $206, citing strong outlook, returns profile, and disciplined capital allocation. Endorsed Chevron as top IOC pick with confidence in financial and operational management. Increase in price target reflects expectation of continued growth and profitability.
Full articleSummary: BlackRock plans to launch a new investment platform in Saudi Arabia with up to $5 billion from the Saudi sovereign wealth fund PIF. The platform aims to accelerate growth of Saudi Arabia's capital markets and will focus on investments across the Middle East and North Africa.
Full articleSummary: Sandoz AG reaches an agreement with Amgen Inc to resolve patent litigation related to denosumab biosimilars, clearing the way for the launch of Jubbonti and Wyost by May 31, 2025. The terms of the agreement will not impact Sandoz's 2024 guidance. These biosimilars are interchangeable with FDA-approved reference medicines Prolia and Xgeva.
Full articleSummary: Medtronic debuts a newly FDA-approved spinal cord stimulation device (Inceptiv) to ease chronic pain.
Full articleSummary: Meta Platforms (META) reported strong Q1 earnings, with core advertising business showing significant growth. The company's heavy investment in new technologies, especially AI, is viewed as positive. Morningstar has a fair value estimate of $400 per share for Meta, but with a 2-star rating suggesting the stock may be overvalued. Meta has a wide economic moat due to network effects and intangible assets, and is considered financially strong with net cash of $47 billion.
Full articleSummary: U.S. central bankers have stalled on further rate cuts as inflation remains flat, uncertainty grows around future rate cuts, and Fed officials are in a state of limbo with differing views on the path forward.
Full articleSummary: The article discusses three primary competitors to Nvidia in the AI chip market: Intel, Advanced Micro Devices, and Meta Platforms, highlighting recent developments and potential for competition with Nvidia.
Full article