Summary: The Home Depot is opening four new distribution centres in North America by the first half of 2024 to better serve its professional customers by providing job lot quantities directly to job sites and reducing in-store congestion. The company aims to enhance its inventory for key professional markets and create a comprehensive pro ecosystem with supply chain facilities, local product assortments, dedicated sales forces, and digital tools.
Full articleSummary: Esther Crawford, a former X employee laid off by Elon Musk, has joined Meta as Messenger’s Director of Product, citing the company's global impact, exceptional people, and Mark Zuckerberg’s vision. Her announcement on social media received positive reactions and suggestions from well-wishers.
Full articleSummary: GE HealthCare shares dropped over 9% in early trading after the company reported weaker-than-expected first-quarter results. Revenue and net income were below estimates, with declines in Imaging, Ultrasound, and Patient Care Solutions segments.
Full articleSummary: Bank of America Corp reported better-than-expected earnings for its first quarter, with quarterly adjusted net income of $7.2 billion and adjusted EPS of 83 cents. The company declared a regular quarterly cash dividend of 24 cents per share. Investors are eyeing potential gains from the company's dividends.
Full articleSummary: Walmart plans to close all of its health-care clinics across the country due to a broken business model, blaming challenging reimbursement environment and escalating operating costs. The closure will affect 51 clinic locations in Arkansas, Florida, Georgia, Illinois, and Texas.
Full articleSummary: SerDes for Automotive market is expected to experience massive growth by 2030 according to a recent study which also includes players like Texas Instruments, Maxim Integrated, Cypress, and Broadcom.
Full articleSummary: Investors are advised to consider buying under-the-radar dividend stocks like PepsiCo due to cheaper prices caused by the tech-fueled stock market rally. Despite being shut out of the market's rally, PepsiCo has strong diversification, stable growth, and rising profit margins.
Full articleSummary: Chevron Namibia Exploration, an affiliate of Chevron, has agreed to a farm-in agreement with the National Petroleum Corporation of Namibia (NAMCOR) for PEL 82, in the Walvis Basin offshore Namibia. The deal will see Chevron’s unit acquire an 80% interest and operatorship in PEL 82 which has shown potential in oil exploration. The agreement marks a continuation of Chevron Namibia Exploration’s presence in the region, which includes PEL 90 in the Orange basin.
Full articleSummary: Big tech companies like Tesla, Meta Platforms, Microsoft, and Alphabet have all reported strong demand for AI applications, which is positive news for Nvidia (NVDA). The increased spending on AI infrastructure and AI models by these tech giants could lead to a significant business boost for Nvidia.
Full articleSummary: Bank of America Corporation has changed its stake in Drax Group plc, crossing a significant threshold on April 25, 2024.
Full articleSummary: McDonald’s plans to increase deals and value messaging to counter slowing sales attributed to customers eating out less often due to inflation, with same-store sales rising 1.9% worldwide in the first quarter falling short of expectations
Full articleSummary: Argus downgrades Boeing to hold from buy, Bank of America reiterates Tesla as buy, UBS reiterates Nvidia as buy
Full articleSummary: McDonald's posts Q1 results below expectations with missed revenue growth and same-store sales estimates, citing consumer price sensitivity and declining foot traffic in major markets. Loyalty program brings in $6 billion in digital sales. Shares drop 9% YTD. Analysts point to competition heating up and concerns about McDonald's value proposition.
Full articleSummary: Tether, a major player in the digital asset industry, has made a strategic $200 million investment in Blackrock Neurotech, a leader in Brain-Computer-Interface (BCI) technology used for medical solutions and human potential enhancement.
Full articleSummary: U.S. Bancorp to present at the Barclays Americas Select Franchise Conference 2024 in London. The presentation will be given by Vice Chair Terry Dolan and CFO John Stern.
Full articleSummary: Bitcoin spot ETFs recorded $51.53 million in single-day outflows, with ARK 21Shares' BTC ETF leading in withdrawals over Grayscale's GBTC fund. BlackRock's IBIT fund surpassed Grayscale as the new market leader despite having no inflows for four consecutive days.
Full articleSummary: Intel Corporation (NASDAQ:INTC) beats earnings expectations in Q1 2024, reported EPS is $0.18 compared to expectations of $0.13. The company focuses on operating leverage, expense management, and making progress against long-term priorities for revenue growth and profitability.
Full articleSummary: American Tower raised its forecast for annual property revenue due to healthy telecom and wireless carrier spending, as well as increasing demand for its data center leasing business.
Full articleSummary: RTX beat earnings expectations but provided less optimistic guidance for 2024, causing Wells Fargo analyst to lower price target. Despite falling profit margins in some businesses, RTX predicts profits to more than double this year. Analyst believes margins will ramp up in specific divisions going forward.
Full articleSummary: Barclays Plc is gaining market share in Asia from US rivals by hiring senior sales and trading staff.
Full articleSummary: Nvidia CEO Jensen Huang is known to be demanding and a perfectionist, believing that achieving extraordinary things shouldn't be easy. Nvidia has reached a $2 trillion valuation, becoming the third-most valuable company in the U.S. by market cap. The company unveiled its new processor, Blackwell, at the annual GPU Technology Conference.
Full articleSummary: Johnson & Johnson and Bristol Myers Squibb lost legal challenges against the Medicare drug price negotiation program introduced as part of President Biden's Inflation Reduction Act. The program will allow CMS to negotiate Medicare Part D drugs for the first time in history starting in 2026.
Full articleSummary: BlackRock's iShares Bitcoin Trust (IBIT) has halted inflows for several consecutive days, leading to concerns in the Bitcoin community and observers
Full articleSummary: Samsung Electronics Co. reported higher-than-expected earnings in the March quarter with its semiconductor division returning to profitability, driven by demand for memory chips and AI services. The company anticipates strong chip demand for the current quarter and the rest of the year.
Full articleSummary: Coca-Cola reported 2% profit growth in the first quarter with a 3% revenue increase and exceeded analysts' expectations. The company raised its organic revenue growth outlook for the full year 2024.
Full articleSummary: Walmart will close all 51 health centers and shut virtual health care operations due to lack of profitability. The company will focus on its pharmacies and Vision Centers instead. Other companies like Walgreens, Amazon, and CVS have faced challenges with expanding healthcare services.
Full articleSummary: Coca-Cola (KO 0.05%) is seen as a safe blue-chip stock that pays consistent dividends and has a strong track record. Despite the recent decline in its stock price, there are several reasons why it remains a good investment.
Full article