Summary: Wells Fargo Center in Jacksonville is being marketed as 1 Independent as the owners negotiate for a new anchor tenant, after the property was taken over in a deed-in-lieu of foreclosure. The tower, built in 1975, has seen various name changes and Wells Fargo plans to downsize its leased space. The new owners, Argentic Investment Management LLC, plan to invest in capital improvements and market the building for signage opportunities with discussions already underway with two financial institutions.
Full articleSummary: Chevron's first-quarter financial results depicted a mixed performance with revenue missing estimates but adjusted EPS slightly exceeding analyst predictions. The company faced challenges in revenue growth amid volatile oil prices, showcasing complexities in managing profitability in the energy sector.
Full articleSummary: Genmab and Pfizer announce the FDA approval of Tivdak, an antibody-drug conjugate, for the treatment of recurrent or metastatic cervical cancer, marking the conversion of its accelerated approval to full approval with demonstrated overall survival data.
Full articleSummary: Sandoz reaches agreement with Amgen resolving all patent litigation related to its US denosumab biosimilars, clearing the path for launch of Jubbonti ® and Wyost ® on May 31, 2025 or earlier under certain circumstances. Jubbonti ® and Wyost ® are the first and only FDA-approved biosimilars to and interchangeable with Prolia* ® and Xgeva* ®. Anticipated launch strengthens Sandoz biosimilar portfolio and advances growth strategy.
Full articleSummary: Apple faces challenges with a loss of market share to Huawei in China, leading to a 19% drop in iPhone sales in the first 3 months of 2024. Tesla secures tentative approval to roll out self-driving software in China, amid increased competition in the EV market.
Full articleSummary: Oracle chairman Larry Ellison plans to move headquarters to Nashville, causing anxieties in Austin. The company previously relocated from California to Texas but still maintains large offices in California. Nashville was chosen due to its role in the healthcare industry and quality of life, with incentives received for job creation.
Full articleSummary: Online retailer Shein is expanding into other categories and courting popular brands like Colgate-Palmolive and Hasbro to sell on its platform in various countries as part of its strategy to compete with Amazon and prepare for a stock market listing later this year.
Full articleSummary: Sandoz reaches agreement with Amgen resolving all patent litigation related to its US denosumab biosimilars, Agreement clears path for launch of Jubbonti ® and Wyost ® on May 31, 2025 or earlier under certain circumstances, Anticipated launch further strengthens Sandoz biosimilar portfolio and advances growth strategy
Full articleSummary: AccessFintech and BNY Mellon are collaborating to address foreign exchange workflow challenges ahead of T+1 settlement regulations, aiming to provide liquidity for international clients trading US securities. AccessFintech specializes in post-trade financial transactions and offers a Synergy T+1 solution for real-time data transparency and cross-market collaboration.
Full articleSummary: McDonald's is expected to report first-quarter earnings before the bell on Tuesday. Wall Street analysts expect earnings per share of $2.72 and revenue of $6.16 billion. The company faced challenges in the previous quarter due to boycotts and safety concerns, with shares falling 7.7% year to date.
Full articleSummary: Berkshire Hathaway, led by Warren Buffett, added almost 16 million shares of Chevron in Q4 2023 becoming second-largest shareholder. Chevron's dividend yield is nearly 4.2%, has grown its dividend steadily and has a positive outlook with a consensus rating of 'Moderate Buy'. Analysts believe Chevron stock's forecast is bullish with mean target price 12.3% higher than the last week's closing price.
Full articleSummary: Microsoft announced a US$1.7 billion investment over the next four years in cloud and AI infrastructure in Indonesia, along with AI skilling opportunities for 840,000 people and support for the nation's developer community, in alignment with the Indonesian government's Golden Indonesia 2045 Vision.
Full articleSummary: Microsoft announces a US$1.7 billion investment in Indonesia for cloud and AI infrastructure, major AI skilling initiatives, and support for the developer community. The investment aims to help achieve Indonesia's Golden Indonesia 2045 Vision.
Full articleSummary: Security startup Corelight has raised $150 million in new financing led by Accel, valuing the business at $900 million. Cisco Investments and Crowdstrike Falcon Fund also participated in the round. Corelight uses AI to help customers respond to threats.
Full articleSummary: Gilead Sciences Inc is working on expanding production of potential COVID-19 treatment drug remdesivir with plans to produce millions of treatment courses. The U.S. National Institutes of Health reported that patients given remdesivir recovered faster compared to those given a placebo. The company's first-quarter earnings were flat with a 5% increase in sales but higher costs led to a 2% decline in shares in extended trading.
Full articleSummary: Microsoft to invest US$1.7 billion in Indonesia for cloud services and AI, including building data centres, and aims to train 2.5 million people in Southeast Asia in AI use by 2025. This move is part of a global strategy to expand support for AI development.
Full articleSummary: Microsoft is prioritizing cybersecurity as its No.1 focus amidst criticism of handling attacks by hackers linked to China and Russia. The company is undergoing its biggest security update in twenty years, doubling down on security as its top priority.
Full articleSummary: Microsoft is addressing issues with the latest optional Windows 11 update, KB5036980, which introduced ads into the start menu. Users are facing error messages when trying to change their profile photo, particularly on local system accounts. Microsoft is expected to release a fix with the May 2024 optional update.
Full articleSummary: Dow announced partnerships with Sealed Air and Changchun FAWSN to develop e-commerce packaging with increased recycled content and lightweight polyolefin elastomer (POE) artificial leather solutions in automotive market respectively, showcasing sustainability commitments to circularity and low carbon at Chinaplas 2024 event in Shanghai.
Full articleSummary: Home Depot (HD) closed slightly higher in the latest trading session, outpacing losses in the market indices. Analysts expect positive earnings and revenue growth for the company. Zacks Rank system rates HD as Hold with positive EPS estimate revisions.
Full articleSummary: Starlink's V4 dish is now available at Target stores for $599.99, including a mesh standard kit with a Wi-Fi router and cables for self-installation. The kits can be returned within 30 days and are compatible with SpaceX's residential and roaming service plans.
Full articleSummary: Thermo Fisher Scientific is experiencing a slow year in 2024 with no earnings growth, mainly due to the headwinds from declining COVID-19 sales. However, funding for biotech startups has picked up and China introduced a stimulus program that could benefit the company. Long-term growth drivers remain intact, and Thermo is well-positioned to capture growth due to its size and scale.
Full articleSummary: Apple is expected to announce significant changes with the upcoming iOS 18 update at the Worldwide Developers Conference in June 2024, focusing on artificial intelligence and new software features for iPhone apps. iOS 18 may include AI-driven enhancements for built-in apps, improved Siri functionality, customizable Home Screen, adoption of RCS messaging standard, enhancements for Safari, Maps, and other apps, and potential updates for AirPods Pro.
Full articleSummary: BD (Becton, Dickinson and Company) announced that it will present at the Bank of America Securities Health Care Conference 2024.
Full articleSummary: Boeing CEO Dave Calhoun plans to step down from his post by the end of the year amidst ongoing bad press over production problems and fallout from incidents involving Boeing 737 Max jets. A new board chair and CEO will be elected as part of the management shakeup.
Full articleSummary: BlackRock Income and Growth Investment Trust plc announces the purchase of 10,000 of its own ordinary shares on the London Stock Exchange, with intent to cancel them. The Company now holds 10,081,532 shares in treasury out of 20,125,258 shares in issue.
Full articleSummary: Medtronic plc (NYSE:MDT) shares rose 1.4% during trading on Monday, with approximately 1,131,054 shares traded. Analysts have given MDT various ratings including 'sell', 'hold', and 'buy', with an average price target of $94.91. The company reported quarterly earnings that beat consensus estimates and also announced a quarterly dividend, resulting in a dividend yield of 3.41%.
Full article