Summary: The U.S. Food and Drug Administration approved the supplemental Biologics License Application for TIVDAK for the treatment of patients with recurrent or metastatic cervical cancer, based on positive results from a Phase 3 clinical trial.
Full articleSummary: Axel Springer SE and Microsoft Corp. have expanded their partnership across advertising, AI, content, and Azure services, with a focus on supporting independent journalism and creating new AI-driven experiences. Axel Springer will adopt Microsoft Advertising as its ad server solution and leverage Microsoft Azure for its SAP solutions.
Full articleSummary: PayPal has seen a rise in its stock by 9.35% since the beginning of the year, but it is still far from its peak during the E-commerce boom of the pandemic. The new CEO is implementing innovative ideas to secure the future of the business. However, concerns arise about extra charges imposed on PayPal users by delivery service Lieferando, which could pose a threat to the payment service. Analysts predict a decrease in earnings per share and revenue for the 1st quarter of 2024 compared to the previous quarter.
Full articleSummary: Microsoft and IBM have open-sourced MS-DOS 4.0 with Multitasking capabilities, but it faced challenges due to high memory usage and bugs, leading to lack of adoption.
Full articleSummary: RTX Co. CEO Gregory Hayes sold shares of the firm's stock, quarterly earnings beat expectations, institutional inflows/outflows reported, analysts issued new price targets.
Full articleSummary: Alphabet Inc. (GOOG) experienced a trading session dip of -3.33% with a positive YTD percentage change of +19.14%. Top analysts continue to encourage investment in Alphabet, citing the company’s robust earnings and AI investments as key growth drivers.
Full articleSummary: ExxonMobil Corp. earned $36 billion in the fourth quarter of 2023, more than doubling its 2019 revenues due to acquisitions. The company is focused on low-carbon solutions and enhancing shareholder value through synergies and partnerships. It plans to invest $23 billion to $25 billion to grow its portfolio and reduce emissions further.
Full articleSummary: Cisco unveiled findings from a survey showing that employees feel office spaces are too focused on individual work, rather than collaboration and innovation. Employers and employees recognize the importance of technology and AI investments for productivity and talent attraction.
Full articleSummary: Nvidia stock (NVDA) has shown an early buy signal with a strong break above the 50-day moving average, encouraging traders to consider a bull put spread trade to profit if the stock stays above 830, potentially yielding a 35% return in 10 days. The option trade has a defined risk strategy with a maximum loss of $370 and a stop loss at $130.
Full articleSummary: ExxonMobil is assessing offers for its oil and gas assets in the Vaca Muerta shale region of Argentina, including stakes in seven oil and gas blocks jointly owned with QatarEnergy, valued at around $1bn. The potential sale is part of ExxonMobil's broader portfolio management strategy.
Full articleSummary: Dow announced partnerships at Chinaplas 2024 to develop e-commerce packaging with increased recycled content with Sealed Air and to promote lightweight polyolefin elastomer (POE) artificial leather solution in automotive market with Changchun FAWSN. The company showcased innovative materials science solutions at the event focused on sustainability commitments.
Full articleSummary: The U.S. FDA granted full approval for Pfizer's drug Tivdak for treating cervical cancer patients who did not respond to chemotherapy, showing a 30% reduction in the risk of death compared to chemotherapy. Pfizer acquired Tivdak as part of a $43 billion deal with Seagen.
Full articleSummary: Tesla confirmed laying off 693 employees in Northern Nevada at various locations, including the Gigafactory, as part of a global workforce reduction plan due to rapid growth. The impact on $1.3 billion in incentives from the state of Nevada is under scrutiny.
Full articleSummary: Nvidia has reportedly released a new variant of the RTX 4070 graphics card using harvested AD103 chips, previously used in higher-end models, to clear out chips that did not meet requirements for top-tier GPUs.
Full articleSummary: Philip Morris International Inc. is aiming to introduce its heated tobacco device, IQOS, in the U.S. to capture a significant market share in a country dominated by vaping products. Analysts and investors are cautiously optimistic about the company's ambitions despite skepticism from competitors. PM's goal is to capture 10% of the total U.S. cigarette and heated tobacco market within five years of launching IQOS.
Full articleSummary: Brussels to open a probe into Meta Platforms' Facebook and Instagram over concerns of failing to counter disinformation from Russia and other countries, especially in political advertising.
Full articleSummary: Meta shares dropped 2.4% on Monday due to reports of job cuts and a potential probe by European regulators over disinformation. Depending on the probe's outcome, Meta could face significant fines under Europe’s Digital Services Act. Despite recent losses, Meta shares have gained about 22% since the beginning of 2024.
Full articleSummary: Amgen has reached resolution of patent infringement litigation related to Sandoz's denosumab biosimilar products, affirming the validity and enforceability of their patent rights. A confidential settlement has been reached allowing Sandoz to launch its biosimilar products on May 31, 2025, or earlier under certain conditions.
Full articleSummary: Facebook and Instagram have integrated Meta AI into posts and search functions, allowing users to interact with AI tools like ChatGPT. Users have expressed frustration with the inability to disable Meta AI despite tricks circulating on social media. However, the search functionality remains intact with the AI tool, providing value in generating content, images, and event planning suggestions.
Full articleSummary: A U.S. judge rejected a challenge by Bristol Myers Squibb and Johnson & Johnson to negotiate prices of blood clot prevention drugs with Medicare, which is part of President Biden's initiatives to reduce drug costs. The ruling comes as part of ongoing legal battles in the industry.
Full articleSummary: Criticism towards Caitlin Clark's $28 million Nike deal, comparisons made to Michael Jordan's deal with the company, reported turned down deals from Under Armour and Adidas, and widespread dissatisfaction towards her shoe deal and WNBA rookie salary.
Full articleSummary: JPMorgan Chase wins auction for The Foundry office building in Georgetown for $22.3M, which was just over a third of the loan amount and significantly lower than assessed property value. JBG Smith had purchased the building in 2014 and stopped putting capital into the property in February.
Full articleSummary: Chevron Corp. expects resolution with Exxon Mobil Corp. over Guyana oil contract dispute in coming months, allowing completion of $53 billion acquisition of Hess Corp. this year.
Full articleSummary: Reports of Intel's top-end 14th and 13th Gen K series processors running into stability issues due to motherboard settings pushing the chips beyond Intel's recommended operating parameters. Intel is urging motherboard partners to implement Intel's stock power settings to prevent system instability.
Full articleSummary: Apple is set to report its second-quarter fiscal 2024 results, with a consensus estimate indicating a decline in revenues and earnings year-over-year. Factors like lower demand for the iPhone, weak China market, and stiff competition have led to a decline in share price. However, the Services segment is expected to show steady growth to partially negate the weakness in iPhone sales.
Full articleSummary: Van ECK Associates Corp increased its stake in The Bank of New York Mellon by 3.0% during the 4th quarter, holding approximately 0.47% of the bank's stock. Insider activity included significant sales by top executives. The bank reported strong quarterly earnings results, exceeding analyst estimates.
Full articleSummary: Chinese aircraft manufacturer Comac secures major contracts for 200 C919 aircraft, posing strong competition to Boeing and Airbus. The C919 is designed to have a remarkable speed in manufacture and fulfillment, with a listing price slightly higher than Boeing's 737-800. However, challenges such as reliance on imported parts, especially engines sourced from General Electric, may impact its production and delivery.
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