Summary: Alphabet, Microsoft, and Meta reported their quarterly earnings with Alphabet showing the best performance and experiencing a stock increase of close to 10%. Microsoft also delivered solid results with revenue up 17% and earnings up 20%, while Meta's stock plunged despite revenue rising 27% and earnings skyrocketing 117% due to concerns over higher spending on AI and metaverse development.
Full articleSummary: Brent Mitchell appointed as VP of go-to-market at Google's public sector arm, brings experience from Oracle and other tech companies.
Full articleSummary: The Department of Homeland Security has established the Artificial Intelligence Safety and Security Board to advise on safe and secure AI technology deployment. The board, including key executives like Kathy Warden of Northrop Grumman, will focus on responsible AI use and disruption prevention in critical infrastructure sectors.
Full articleSummary: Intuit Inc is in talks to buy email marketing company Mailchimp for more than $10 billion, which would be the largest deal to date for Intuit.
Full articleSummary: Salt Lake City Costco opened as the world's largest at 235,000 square feet, offering 2,700 items including soft drinks and whole animals. It is a hybrid location combining a warehouse store and a business center.
Full articleSummary: Canada's decision to ground Boeing's 737 MAX-8 jets in 2019 was influenced by new data about two deadly crashes involving the MAX-8s in Ethiopia and Indonesia, leading Transport Minister Marc Garneau to ban the jets from Canadian airspace just hours after receiving the information. The decision was based on evidence showing similarities between the two crashes, ultimately linked to flaws in Boeing's anti-stall software called MCAS. In 2021, Canada cleared the MAX-8 to fly again after nearly two years of grounding.
Full articleSummary: Citigroup raised General Dynamics' target price to $320.00 and maintains a buy rating on the stock. Several other research reports have been issued, with most analysts giving a buy or neutral rating. General Dynamics reported earnings slightly below estimates but had increased revenue. The company also announced an increase in dividend.
Full articleSummary: General Dynamics (NYSE:GD) was upgraded from a buy rating to a strong-buy rating by StockNews.com and received multiple price target increases from various equities analysts, resulting in an upgraded consensus rating and higher target price on Thursday. General Dynamics also announced an increase in quarterly dividend. Despite missing EPS estimates, the company showed revenue growth in its latest quarterly earnings report.
Full articleSummary: Meta Platforms, Inc. (NASDAQ:META) experienced a major selloff, losing 10.6% in the wake of its first quarter earnings report. The company reported decent sales and profit performance, but higher costs related to AI investments led to a $200 billion market valuation drop. Investors are advised to wait for a key chart level to hold before considering investment.
Full articleSummary: Chinese shoppers are spending more on diapers and Colgate toothpaste, while some consumer goods companies are reporting signs of stronger spending in China. However, companies like L'Oreal and P&G are facing challenges in selling beauty products in China. P&G's SK-II skincare brand is seeing sentiment improvement despite a decline in sales.
Full articleSummary: Gilead Sciences received FDA approval for the label expansion of Biktarvy, a fixed combination therapy for HIV-1, to include pregnant patients in their second and third trimesters and up to 16 weeks postpartum with suppressed viral loads. This expansion was based on positive data from an open-label Phase Ib trial.
Full articleSummary: BlackRock Inc. is hosting a large event in Riyadh in collaboration with the Saudi Ministry of Finance to showcase investment opportunities and progress on Vision 2030 program.
Full articleSummary: Repertoire Immune Medicines and Bristol Myers Squibb have entered into a multi-year strategic collaboration to develop tolerizing vaccines for up to three autoimmune diseases. Repertoire will receive an upfront payment of $65 million and is eligible for up to $1.8 billion in milestone payments and royalties. The collaboration aims to develop efficacious, selective, and durable treatments for patients with autoimmune diseases by resetting the immune system.
Full articleSummary: Ford Motor Company Fund is renaming itself to 'Ford Philanthropy' after making $2.3 billion in philanthropic contributions since 1949, with $73.7 million donated in 2023 benefiting 3.5 million people. The brand refresh also includes the release of Ford Philanthropy’s annual Impact Report.
Full articleSummary: Estée Lauder Companies (ELC) is increasing its investment in AI technology through a partnership with Microsoft, aiming to enhance product development and customer experience across its beauty brands. This includes implementing internal chatbots, generative AI, and leveraging consumer data for quicker response to beauty trends and demands.
Full articleSummary: New York State Attorney General Letitia James demanded answers from Meta, Facebook's parent company, regarding the AI chatbot fabricating sexual harassment allegations against state lawmakers. She expressed concerns about misinformation harming officials' reputations and misleading residents, citing fabricated source articles and fake citations from major news outlets.
Full articleSummary: Repertoire Immune Medicines collaborates with Bristol Myers Squibb to develop tolerizing vaccines for autoimmune diseases, Repertoire to receive $65 million upfront payment and up to $1.8 billion in milestone payments and royalties
Full articleSummary: William Blair analysts raised FY2024 EPS estimates for General Dynamics to $14.51 per share, up from prior forecast of $14.39. The consensus estimate for current full-year earnings is $14.57 per share. Other analysts also provided ratings and price targets for the company.
Full articleSummary: Simon Property Group is scheduled to announce its earnings results on May 6th, with analysts expecting $2.80 EPS for the quarter. The company has provided FY24 guidance and FY 2024 guidance on EPS. Additionally, Simon Property Group's board initiated a $2.00 billion stock buyback program and increased its dividend.
Full articleSummary: Several institutional investors increased their stakes in JPMorgan Chase & Co., while insiders have been selling shares of the company. Analysts have mostly given positive ratings on the stock, with a consensus price target of $192.05. Additionally, JPMorgan Chase & Co. recently announced an increase in its quarterly dividend.
Full articleSummary: Wedbush dropped their Q2 2024 earnings per share estimates for Starbucks, several other analysts also revised price targets and ratings for the company. The consensus rating for Starbucks is 'Neutral' with a consensus target price of $106.55.
Full articleSummary: MSI's selection of AMD's 7000 series cards is dwindling with only 3 models still being offered, while the focus shifts towards NVIDIA's RTX cards. AMD motherboards will continue to be promoted. The product comparison shows NVIDIA dominating with over 140 models compared to AMD's 4 products.
Full articleSummary: Tesla Cybertruck owner expresses frustration over quality issues with the vehicle, including problems with frunk alignment, windshield defect, center console noises, unresponsive tailgate buttons, gear selector coming loose, and issues with pedal recall fix. Despite multiple service appointments, the problems persist, with the tailgate opening unexpectedly and not closing, leading to further complications.
Full articleSummary: Google Cloud is expanding its solutions for high performance computing with new products and updates showcased, including H3 VMs for HPC workloads and A3 VMs for AI models, as well as the introduction of storage system Parallelstore. Additionally, new blueprints for ML and CAE workloads have been added to the Cloud HPC Toolkit, highlighted by a customer success story with Stanford University leveraging the toolkit for research demands.
Full articleSummary: US tech giant IBM to invest C$1bn in expanding its semiconductor packaging and testing plant in Quebec, Canada creating around 280 skilled jobs.
Full articleSummary: Bank of America lowered the target price for Canadian Pacific Kansas City from $97.00 to $92.00, maintaining a buy rating on the stock. Various other analysts have also given ratings and price targets, with the average price target being $96.42. Canadian Pacific Kansas City stock had an EPS of $0.69 for the recent quarter and expects to post 3.16 EPS for the current fiscal year. The company also announced a quarterly dividend of $0.141 per share.
Full articleSummary: Ford Philippines reports a 28% increase in sales for the first quarter of the year, selling 7,531 vehicles. The Ranger is the best-selling model with 3,290 units sold and a 33% sales growth.
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