Summary: Chevron expects a resolution to the dispute with ExxonMobil over a Guyana oil contract in the coming months to complete a US$53 billion acquisition of Hess this year.
Full articleSummary: Costco (COST) ended the latest trading session at $726.33, reflecting a slight decrease from the previous day. Analysts are projecting an increase in both EPS and revenue for the upcoming quarter. Costco currently holds a Zacks Rank of #3 (Hold) and is being traded at a premium compared to its industry average. The Retail - Discount Stores industry, to which Costco belongs, has a Zacks Industry Rank of 36, ranking in the top 15% among all industries.
Full articleSummary: Tether, the issuer of the USDT stablecoin, has invested $200 million in Blackrock Neurotech, a biotech firm known for pioneering brain-computer interface technology, to enhance medical solutions for neurological disorders. The investment aims to boost commercialization of BCI technology for healthcare applications.
Full articleSummary: Pfizer Inc. highlights its progress in advancing new potential standards of care in Oncology at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, presenting more than 50 abstracts, including Phase 3 study results for approved medicines and promising data from its pipeline therapies.
Full articleSummary: Gilead Sciences Inc. reported a strong financial performance in Q1 2024 with notable increases in total product sales, focusing on HIV and oncology products, including Trodelvy. The company's full-year revenue outlook remains steady, highlighting optimism in the market potential of Trodelvy and upcoming treatments.
Full articleSummary: A U.S. judge rejected a challenge by Bristol Myers Squibb and Johnson & Johnson to a law requiring them to negotiate prices of their blood clot prevention drugs with Medicare, potentially impacting sales of blockbuster drugs Eliquis and Xarelto.
Full articleSummary: Honeywell International Inc. (NASDAQ:HON) shares were down 0.1% during mid-day trading on Monday. Analysts have issued mixed ratings on the stock with an average target price of $215.71. The company reported higher than expected earnings results on April 25th, with a return on equity of 35.88% and a net margin of 15.52%. Honeywell International also announced a quarterly dividend of $1.08 per share.
Full articleSummary: Tech giants Meta Platforms and Microsoft heavily investing in AI this earnings season, with favorable outlook for Microsoft over Meta, according to Visible Alpha Head of TMT Research Melissa Otto.
Full articleSummary: Big tech companies like Meta Platforms (META) and Microsoft (MSFT) are focusing on AI during this earnings season. Visible Alpha Head of TMT Research Melissa Otto suggests considering Microsoft for investment due to its strong demand and outlook for Azure business growth from AI. Otto is less enthusiastic about Meta Platforms due to higher expense guidance and lack of visibility on expenses.
Full articleSummary: Johnson & Johnson and Bristol Myers Squibb Co.'s bids to block the government drug price-setting program were dismissed by a federal judge.
Full articleSummary: Honeywell International Inc. declared a quarterly dividend of $1.08 per share, representing a $4.32 annual dividend and a yield of 2.23%. The company has been increasing its dividend annually for the last 13 years and analysts expect it to continue doing so in the future. Honeywell International also reported positive earnings results, with a return on equity of 35.88% and a net margin of 15.52%.
Full articleSummary: Comcast is willing to pay $2.5 billion/year to acquire the NBA rights package from Warner Bros. Discovery, who can match any third party offer and is making efforts to retain the rights.
Full articleSummary: Apple is set to unveil new additions to the iPad line including a new iPad Pro, iPad Air, Apple Pencil, and a keyboard case. There may also be a launch of the new M4 chip which comes shortly after the M3 chip release. Rumors suggest Microsoft is launching third-party silicon offering 'industry-leading performance' which could prompt Apple's early announcement.
Full articleSummary: A U.S. judge rejected a challenge by Bristol Myers Squibb and Johnson & Johnson to a law requiring them to negotiate drug prices with Medicare, stating it was not an illegal taking of their property. The program, part of the 2022 Inflation Reduction Act, will bring down prescription drug costs by setting negotiated prices to go into effect in 2026.
Full articleSummary: Home Depot, Amazon, and other retailers are offering kit homes which are advertised as 'DIY' projects with prices starting at $20,000. However, additional costs for fixtures, sinks, and connections to utilities can significantly increase the total cost of building these kit homes. Kits come partially preassembled, but builders need to ensure they meet local building codes.
Full articleSummary: Alphabet's stock surged to new highs after posting strong Q1 earnings with double-digit revenue and earnings growth, announcing a dividend and share repurchase plan. Analysts like JPMorgan raised price targets on the stock due to its momentum, shareholder-friendly capital returns, and AI investments.
Full articleSummary: Pfizer agrees to a $25.5 million settlement to resolve claims related to alleged collusion with competitor Teva over antidepressant Effexor XR. The settlement primarily benefits 'indirect purchasers' of the drug through intermediaries, with 78% of funds allocated to third-party payors and 22% to individual consumers. Plaintiffs' attorneys are set to receive $8.7 million.
Full articleSummary: A federal judge rejected legal challenges by Johnson & Johnson and Bristol Myers Squibb to the Biden administration's Medicare drug-price negotiations, deeming the program constitutional. The decision is seen as a win for the White House and could impact drugmakers' profits. Other drug companies like Novo Nordisk and Novartis also presented oral arguments in a similar case.
Full articleSummary: Unidentified state-sponsored cyber spies have been exploiting zero-day vulnerabilities in Cisco's Adaptive Security Appliance (ASA) and Firepower Threat Defense (FTD) firewalls globally since November 2023, prompting urgent patches from cybersecurity agencies.
Full articleSummary: Microsoft reported strong third quarter earnings, surpassing estimates. The company experienced capacity challenges in deploying artificial intelligence models due to a shortage of data center infrastructure. Microsoft also secured a significant deal with Coca Cola to accelerate AI transformation.
Full articleSummary: JPMorgan Chase & Co, Goldman Sachs Group, Apollo Global Management, and Oaktree Capital Management are in discussions to lead a US$1.05 billion financing for ASC Engineered Solutions. The new cash would be used to refinance debt arranged by JPMorgan in 2019, with pricing lower than recent private credit deals.
Full articleSummary: Apple is preparing to hold an event named 'Let Loose', expected to focus on iPad updates including iPad Air, iPad Pro, and potentially new models of iPad and iPad Mini. The event may also showcase a new Apple Pencil with haptic feedback, an updated keyboard, and hints of AI-focused software developments.
Full articleSummary: The evolving cyberthreat landscape has resulted in significant financial losses for companies like UnitedHealth Group, leading organizations to prioritize cybersecurity measures. Microsoft is doubling down on security efforts, with the Secure Future Initiative at the forefront of its strategic agenda. The establishment of global cybersecurity standards and certification programs, led by the Connectivity Standards Alliance (CSA), aims to enhance security for IoT devices and increase consumer confidence.
Full articleSummary: NVIDIA Corporation (NVDA) is benefitting from the data center end-market business and collaborations with Mercedes-Benz and Audi. Alphabet Inc. (GOOGL) is seeing positive momentum in the cloud business and Search performance. Amazon.com, Inc. (AMZN) is experiencing growth in its Prime unit and the cloud business.
Full articleSummary: NVIDIA, Alphabet, and Amazon.com are featured in today's Zacks Research Daily with positive outlooks on the AI, cloud, and e-commerce businesses. NVIDIA's collaborations in the autonomous vehicles industry and Alphabet's momentum in cloud and search are highlighted. Amazon's strong adoption rate of AWS and expansion in various sectors are mentioned.
Full articleSummary: Emergency slide falls off a Boeing plane in New York and washes up near the home of a lawyer suing Boeing over safety concerns. The incident is being investigated by the FAA. The lawyer's firm is involved in a securities class action lawsuit against Boeing, accusing the company of prioritizing profits over safety.
Full articleSummary: Meta's Oversight Board is conducting layoffs that will impact its research support staff as part of the board's natural evolution. The cuts come amidst Meta's strong financial standing with over $12.3 billion in net income reported in the past quarter.
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