Summary: Atria Wealth Solutions Inc. decreased its holdings in PayPal Holdings, Inc. by 7.3% during the fourth quarter, with various other hedge funds also modifying their holdings. Analysts have set new price targets for PYPL, with consensus rating of 'Hold'. Insider transactions include a senior vice president selling shares of the company.
Full articleSummary: Meta's advertising revenue in 2023 reached over $131 billion, up from $119 billion in 2022, but the company faces a new challenge with increasing AI-generated deepfake content in ads violating its policies. These ads promote NSFW chatbots and virtual 'girlfriend' apps targeting men aged 18 to 65. Despite Meta's efforts to remove violating ads, many explicit AI 'girlfriends' ads remain active, raising ethical and legal concerns. Apple recently removed apps from its App Store known for generating non-consensual nude images using AI, some of which were advertised on Meta's platforms.
Full articleSummary: Hedge funds are accumulating Palantir Technologies (PLTR) stock due to the company's AI platform launch and increasing margins. Even though PLTR stock has appreciated significantly, with a 31% YTD increase, analysts have a bearish outlook on it, with a Moderate Sell consensus rating and an average price target suggesting a 12.66% downside potential.
Full articleSummary: Institutional investors hold a majority stake in Coca-Cola (NYSE:KO), with 62% ownership, making the stock vulnerable to their trading decisions. The top 25 shareholders collectively control less than half of the company's shares, indicating widely disseminated ownership. Insider ownership of the company is under 1%, with insiders owning US$1.8b worth of shares.
Full articleSummary: MSI is shifting focus towards Nvidia's graphics cards, reducing the production of AMD GPUs, particularly in the Radeon RX 7000 series. The company has only a few Radeon models available on shelves, signaling a clear preference for Nvidia's RTX cards.
Full articleSummary: Cisco opened a new Cyber security Technology Experience Centre at the University of Nairobi in collaboration with ICTA, offering support for Kenya's cyber defence initiatives and training programmes.
Full articleSummary: Deutsche Bank expects a potential erosion in its projected pre-tax profit for 2024 due to an ongoing shareholder lawsuit related to its 2010 acquisition of Postbank.
Full articleSummary: Philip Morris International plans to introduce its heated tobacco device, IQOS, to the U.S. market in the second quarter as part of its strategic shift towards promoting healthier smoking options, targeting a 10% share of the U.S. cigarette and heated tobacco market.
Full articleSummary: Bernstein Liebhard LLP issued a reminder to investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit against Lincoln National Corporation for alleged violations of the Securities Exchange Act of 1934. The lawsuit claims that the company failed to disclose several issues leading to a net loss in its financial results and misstated financial statements. Lincoln's stock price fell by 33.2% on November 3, 2022, after the company reported a net loss of $2.6 billion for the quarter.
Full articleSummary: Wells Fargo Home Lending is expanding its $10,000 Homebuyer Access grant program to more communities in eight metropolitan areas and additional eligible areas in New Jersey, aiming to empower Black and Hispanic homebuyers by providing down payment assistance.
Full articleSummary: Sigma Planning Corp reduced its stake in shares of Capital One Financial Co. by 25.7% in the fourth quarter. Wall Street analysts have a mixed rating on COF stock including 'outperform', 'neutral', and 'market perform'. The company reported a decrease in revenue but a better-than-expected return on equity.
Full articleSummary: IBM is investing over $730 million in expanding its semiconductor packaging and testing plant in Quebec to strengthen its supply chain and generate new jobs. The focus is on reducing reliance on offshore packaging services, particularly from Taiwan, and bringing semiconductor manufacturing back to North America.
Full articleSummary: Investors worried about Nvidia's high valuation can consider investing in Vanguard Growth ETF to gain exposure to Nvidia and the wider AI space without ultra-high levels of risk. The ETF is heavily exposed to the tech sector and has outperformed many peers, jumping 33% in the past year.
Full articleSummary: Nvidia is benefitting from the AI boom with intense demand for its graphics processing units, but its stock valuation is stretched at 34 times sales, making it the most expensive among 'Magnificent Seven' stocks. Vanguard Growth ETF offers exposure to Nvidia and other tech giants with lower risk and costs for investors seeking to capitalize on the AI boom. The ETF has outperformed peers like S&P 500, but its heavy exposure to the tech sector may increase short-term risk during downturns.
Full articleSummary: Berkshire Hathaway is being considered as a potential addition to the 'Magnificent 7' stock list, comparing its valuations and fundamentals to other top stocks. Additionally, the company's holdings in old economy companies like The Sherwin-Williams Co. (SHW), Masco Corp. (MAS), and Armstrong World Industries, Inc. (AWI) are evaluated.
Full articleSummary: Turkish Airlines is in the process of negotiating with both Airbus and Boeing to purchase 235 aircraft as part of its expansion plans. The airline aims to expand by almost 600 planes in its 10-year fleet plan.
Full articleSummary: Tech giant IBM is starting a legal battle in the English High Court against Swiss software company Lzlabs over allegations of reverse-engineering. The trial will be a focus in the tech industry.
Full articleSummary: Medtronic received FDA approval for its closed-loop spinal cord stimulation device Inceptiv, offering real-time adjustment of electrical pulses for chronic pain treatment. The device is the first of its kind to offer a closed-loop feature, providing personalized and effective relief for patients.
Full articleSummary: Bristol Myers Squibb and Repertoire Immune Medicines have entered a multi-year strategic collaboration to develop tolerizing vaccines for up to three autoimmune diseases. Repertoire will lead activities through development candidate nomination for an upfront payment of $65M and up to $1.8B in milestone payments. Bristol Myers Squibb will lead clinical development, regulatory affairs, and commercialization of the vaccines.
Full articleSummary: Prominent market watcher EGRAG recently updated his XRP 'Bent Fork' analysis, setting an ultimate price target of $17. Despite ongoing bearish sentiments and recent declines, EGRAG remains optimistic about XRP's performance, projecting a surge towards $17 based on historical support levels and dominance analysis.
Full articleSummary: Republic First Bank in Philadelphia, USA, has been closed and sold to Fulton Bank by US regulators due to financial difficulties and cost reduction efforts.
Full articleSummary: Intelsat agrees on a deal with CNH Industrial to provide satellite communication network to agriculture and construction equipment, competing with SpaceX and John Deere's upcoming partnership. The collaboration aims to enhance data tracking, increase yields, and reduce costs for farmers using smart machines.
Full articleSummary: Investors in Meta, Alphabet, and Microsoft had varying reactions to news about spending on artificial intelligence.
Full articleSummary: Investors in Meta, Alphabet, and Microsoft had varied reactions to news on spending on artificial intelligence.
Full articleSummary: Nvidia's latest RTX 4080 Super graphics card offers significant performance improvements over the 30 Series GPUs, particularly excelling in ray tracing capabilities. The card is recommended for users with older GPU models looking for enhanced gaming and content creation experiences.
Full articleSummary: Wolverine Asset Management LLC significantly reduced its position in BlackRock MuniYield Michigan Quality Fund in the fourth quarter, as reported in its 13F filing with the SEC. Several other institutional investors have also made changes to their holdings. The fund recently declared a monthly dividend.
Full articleSummary: NVIDIA confirms new variant of RTX 4070 featuring AD103 GPU, which is a non-standard GPU variant with a different core count. Models are already on the market, including the RTX 4070 Ventus 3X E model from MSI.
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