Summary: Pfizer receives FDA approval for its gene therapy BEQVEZ to treat haemophilia B, based on results from Phase III trial BENEGENE-2 which showed a significant reduction in bleeding rate for participants. BEQVEZ enables patients to produce factor IX internally potentially eliminating the need for regular infusions. The therapy will be monitored for up to 15 years.
Full articleSummary: Wolfe Research shifted HashiCorp Inc's rating from Outperform to Peer Perform due to IBM's anticipated acquisition, expecting the deal to finalize by the end of 2024. The research firm sees the lack of further upside potential in HashiCorp's stock price post-acquisition, reflecting a neutral outlook.
Full articleSummary: US cable operator Charter Communications added 486,000 mobile lines in Q1 with wireless revenue increasing to $685 million. Charter's wireless service now accounts for 5% of total revenue. The company emphasized room for growth in mobile business despite lower number of users taking Spectrum One bundled offering.
Full articleSummary: The payments sector is set to benefit from a new initiative focusing on quantum-safe cryptography in response to the threat posed by quantum computing. Leading financial and tech companies have joined forces through the Emerging Payments Association Asia (EPAA) to address challenges and enhance security measures in payment networks.
Full articleSummary: Connecticut state government is utilizing AI technology from companies like CrowdStrike and Abnormal Security to protect against cyber attacks. The state has contracts worth $1.3 million and $372,363 with CrowdStrike and Abnormal Security respectively for AI services. The use of AI is under scrutiny for potential regulation.
Full articleSummary: Warren Buffett's latest annual letter to shareholders revealed eight companies that Berkshire Hathaway plans to hold stakes in 'indefinitely,' including Coca-Cola, American Express, Mitsubishi, Mitsui, Itochu, Sumitomo, Marubeni, and Occidental Petroleum.
Full articleSummary: Exxon Mobil Corp. (XOM) experienced its worst share price drop since last year due to increasing maintenance costs impacting oil-refining profits, despite positive reports of Q1 adjusted profit and successful projects.
Full articleSummary: Raymond James & Associates increased its holdings in BlackRock MuniVest Fund II by 38.4% in the 4th quarter, adding 8,306 shares worth $323,000. Other institutional investors and hedge funds have also recently invested in MVT.
Full articleSummary: Caterpillar reported robust earnings for Q1 2024, with EPS of $5.75 (+53.7% YoY), revenue slightly down at $15.8 billion, and an operating profit margin of 22.3%. The company's success is attributed to its global dealer network, diverse product line, and commitment to innovation.
Full articleSummary: Scam involving NVIDIA's GeForce RTX 4090 graphics cards circulating marketplaces, units found stripped of vital components, possible scams in the used GPU markets. Buyers advised to be cautious.
Full articleSummary: General Dynamics Corp. (NYSE:GD) stock received an upgrade from Hold to Buy by Jefferies with a price target increase to $335. The analyst is optimistic about growth in the Gulfstream business, potential upside in the defense segment, strong free cash flow, and portfolio optionality.
Full articleSummary: The European Central Bank and the Bank of England are poised for interest rate cuts, while the Federal Reserve in the United States remains steadfast. This divergence has significant implications for investors worldwide, prompting a strategic reassessment of investment portfolios. Investors must consider diversification, sectoral analysis, currency considerations, and corporate bonds as attractive opportunities.
Full articleSummary: President Joe Biden signed the "divest or ban" TikTok bill, requiring ByteDance to sell its shares in the app to a U.S. business within 270 days or face an outright ban. Potential buyers like Amazon, Apple, and Oracle are being speculated due to their capabilities and existing relationships with TikTok or the tech industry.
Full articleSummary: Home Depot, Inc. (NYSE: HD) has been facing challenges in the current housing market landscape but has announced a strategic acquisition aimed at expanding its market presence. Stock has been range-bound in the long term but shows potential for buying at current levels of $335.
Full articleSummary: Google has laid off its entire Python team for ‘cheap’ labour and plans to hire cheaper labour outside the US. The company is building a new team in Munich, Germany. Job cuts also reported in real estate, finance departments and across multiple teams in January.
Full articleSummary: Caterpillar had its price target lifted to $340.00 by TD Cowen with a buy rating. The stock is trading up 1.6% and recently reported higher than expected earnings. The company also announced a quarterly dividend.
Full articleSummary: Chevron reported a decline in net income and total revenues for Q1 2024 due to lower margins on refined product sales and natural gas realisations. However, the company saw an increase in net oil-equivalent production by 12.3%, primarily driven by acquisitions and strong performance in key regions.
Full articleSummary: Cybersecurity researchers at BeyondTrust detected over 1200 vulnerabilities in Microsoft products in 2023. Despite the high number of vulnerabilities, the overall counts indicate environmental robustness rather than reflecting entire risk landscapes. Microsoft's collaboration with security researchers has helped in disclosing and patching flaws before public exploitation, resulting in a decrease in critical vulnerabilities.
Full articleSummary: Cantor Fitzgerald lowers FY2024 EPS estimates for Gilead Sciences, Inc. Other brokerages also lower their price target and rating on GILD stock. Insider sells 2,000 shares. Institutional investors adjust their holdings of Gilead Sciences stock.
Full articleSummary: Tesla partners with Baidu to clear a key hurdle to launch Full Self-Driving capabilities in China, addressing mapping concerns for more advanced self-driving features. China Association of Automobile Manufacturers announced Model 3 and Model Y produced at Tesla's Shanghai factory passed data security requirements.
Full articleSummary: ExxonMobil reported a 28% decrease in net income for Q1 2024 compared to the same period last year. This decline was attributed to various factors including lower refining margins and natural gas prices, as well as timing effects and non-cash impacts.
Full articleSummary: Bowman Consulting Group is preparing to release its earnings data, with analysts expecting $0.22 per share for the quarter. The company previously reported $0.23 earnings per share for the last quarter, surpassing estimates. Several brokerages have recently given positive ratings and high price targets for BWMN stock.
Full articleSummary: Multiple Phase II trials for various drug candidates were terminated, including Eli Lilly's merestinib in solid tumors, RevImmune's CYT-107 for Mycobacterium avium infection, and Leap Therapeutics' sirexatamab for bile duct cancer. However, Trellis Bioscience completed a Phase I trial for calpurbatug in gram-positive and gram-negative bacterial infections.
Full articleSummary: Apple is renewing discussions with OpenAI for generative AI features in iOS 18, also in talks with Google for licensing the Gemini chatbot. AI capabilities expected to be a key focus in upcoming software updates and new devices like iPhone 16 and iPad Pro.
Full articleSummary: China makes progress in leveraging supercomputers and domestic artificial intelligence chips for large language model training, amid US restrictions on exporting Nvidia's advanced AI chips to Beijing.
Full articleSummary: Paysafe launched Pay by Bank for iGaming, allowing U.S. online bettors to fund deposits and cash-out winnings securely and instantly from their online bank account. This provides additional payment options to U.S. players, enhancing user experience and potentially boosting player acquisition and retention for operators.
Full articleSummary: Google has laid off employees including its entire Python team in the U.S. in a move to hire cheaper labor in Germany, also cutting staff from real estate and finance departments. The layoffs are part of the company's wider restructuring efforts and growth focus in Bangalore, Mexico City, and Dublin.
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