Summary: Asia-Pacific markets climbed as traders anticipate the Federal Reserve's meeting, US stock market showed strong performance, oil prices rose on Middle East tensions, Alphabet hit all-time highs after earnings report
Full articleSummary: Lockheed Martin reported full year 2022 results with a revenue of US$66.0b, a net income of US$5.73b, profit margin of 8.7%, and an EPS of US$21.74, showing decreases compared to FY 2021. Despite the declines, revenue beat expectations by 1.1% and forecasted revenue growth is 2.2% p.a. on average for the next 3 years. The company's shares are up 1.8% from a week ago.
Full articleSummary: Google has accused the federal government of fabricating a market for its antitrust suit against the tech giant, claiming that the Department of Justice has not shown that Google commands a 70% share of the online advertising market. Google has requested a judge to summarily dismiss the suit, arguing that the government ignores competitors like Facebook, Instagram, Amazon, and TikTok in market share calculations.
Full articleSummary: Alphabet and Microsoft's strong earnings due to AI investments drove growth in technology stocks, reaching US$2 trillion market value and increasing stock buyback, while Meta Platforms showed softer growth. Amazon.com, Nvidia, Broadcom, and Marvell Technology also rose on optimism about increased spending by tech giants.
Full articleSummary: Alphabet and Microsoft reported earnings driven by AI investments, leading to a rally in technology stocks. Alphabet's market value crossed US$2 trillion, while Microsoft's market value increased by US$80 billion. Both companies exceeded revenue growth expectations with AI services.
Full articleSummary: Zach Oleksiuk, an influential figure at BlackRock Inc, is leaving the firm to take a new role in the corporate governance world.
Full articleSummary: Target superfans on Reddit shared their opinions on some overpriced and poor-quality items at Target, ranging from clothing and household products to tech accessories, resulting in warnings for other customers to avoid these products.
Full articleSummary: Nvidia's GPU-powered technology, used for artificial intelligence, has propelled the company to a market valuation of over $2 trillion, with its latest GPU, Blackwell, being unveiled as the fastest chip ever designed for AI. The company's innovations are being utilized in creating virtual movie sets, developing protein-based drugs to combat diseases, and are featured in humanoid robots designed to address labor shortages.
Full articleSummary: Nvidia's market value reached $2 trillion, fueled by the demand for its AI technology, including GPUs. Its CEO Jensen Huang believes AI is about to change everything.
Full articleSummary: Meta Platforms (NASDAQ:META) experienced a stock slump following Q1'24 earnings due to proposed increased spending on AI, but rebounded off 2022 lows below $100. The company's aggressive investing in AI and potential TikTok ban catalyst have led to a dip in stock value and increased opportunity for investors.
Full articleSummary: Signaturefd LLC decreased its position in shares of Schwab U.S. Aggregate Bond ETF by 8.2% during the fourth quarter. Other institutional investors also made changes to their positions in the company. The fund owned 4,206 shares of the company's stock after selling 376 shares during the quarter.
Full articleSummary: Home improvement chains Home Depot and Lowe's are likely to report rising sales in the third quarter as Americans continue to spend on home improvements despite surging prices. Analysts see them benefiting from rising interest rates and backlog of work for professional contractors.
Full articleSummary: Home Depot Inc and Lowe's Cos Inc are likely to report rising sales in the third quarter as Americans continue to spend on home improvements. Analysts expect Home Depot to report Q3 revenue of $37.96 billion, up more than 3% from last year and a profit of $4.12 per share, while Lowe's is estimated to show a rise of about 1% to $23.13 billion with earnings of $3.10 per share. Both companies have a consensus 'buy' rating among analysts.
Full articleSummary: Apple has reportedly reopened discussions with OpenAI about integrating AI features into the iPhone, including licensing Google's AI chatbot. Apple CEO Tim Cook announced plans to offer more details about their strategy for using generative AI, recognizing the potential for transformative advancements. Working with partners could accelerate Apple's entry into the chatbot space while reducing AI risks.
Full articleSummary: Tesla had a disappointing quarterly period due to slowing EV sales growth, but investors are optimistic about the future with planned affordable EV offerings and growth in energy businesses. The company is also focusing on automation and manufacturing efficiency to conserve cash.
Full articleSummary: Costco members express outrage over disrespectful behavior by fellow shoppers, including abandoning steaks and dumping items in store. Some customers also complain about the quality of raw poultry.
Full articleSummary: ASX 200 futures are up 0.40%, US benchmarks were higher, BHP making a revised offer for Anglo American, copper stocks to climb, Tasmea set to list.
Full articleSummary: Wall Street analysts have an average brokerage recommendation (ABR) of 1.38 for NextEra Energy (NEE), leaning towards a Buy. However, relying solely on brokerage recommendations may not always lead to profitable investments due to analysts' positive bias towards stocks they cover.
Full articleSummary: ASX 200 futures are trading higher, driven by positive sentiment in major US benchmarks and potential corporate actions from BHP and Tasmea.
Full articleSummary: Republic First Bancorp has been sold to Fulton Bank after being seized by regulators. With this acquisition, Fulton Bank has purchased assets worth $6 billion, including an investment portfolio of $2 billion and loans of $2.9 billion.
Full articleSummary: Geneva Partners LLC increased its position in Alphabet Inc. during the fourth quarter, holding 51,407 shares worth $7,181,000. Institutional investors also raised their stakes in the company. Several analysts set new price targets for GOOGL stock, with majority giving a buy rating. Alphabet's stock performance showed positive trends with a 52-week low of $103.54 and a high of $174.71. The company reported strong quarterly earnings results exceeding analysts' expectations.
Full articleSummary: Analysts are bullish on tobacco company shares due to their high margins, cash flow, and dividends. Philip Morris International (NYSE: PM) received a buy recommendation with a $118 per-share price target, suggesting a 24% upside. The company showed growth in revenue and profitability in its latest quarterly earnings report, notably driven by its smoke-free products.
Full articleSummary: Philip Morris International (PM) stock is considered a buy by analysts due to strong quarterly earnings and growth in revenue, profitability, and guidance on its smoke-free products.
Full articleSummary: Caterpillar (CAT) has been one of the most searched-for stocks on Zacks.com lately. The company is expected to show positive changes in earnings and revenue growth. The Zacks Rank is #3 (Hold) for Caterpillar, indicating a neutral sentiment on the stock.
Full articleSummary: Intel's price objective was lowered by Susquehanna with a neutral rating, indicating a potential upside. Several other analysts have varying opinions on the stock. Intel stock is down 9.2%. The company's CEO recently made significant purchases of Intel shares. Institutional investors have also made adjustments to their holdings in Intel.
Full articleSummary: JPMorgan Chase & Co. and its affiliates have decreased their stake in Syrah Resources Limited, making changes in their shareholding with securities on loan, purchases, sales, and obligations to return.
Full articleSummary: The Federal Reserve is holding its two-day meeting where rates are expected to remain steady at 5.25%-5.5%. Fed Chair Jerome Powell's comments on interest rates and inflation will be closely watched. Analysts predict a possible 'hawkish pivot' at the meeting.
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