Summary: PFG Investments LLC significantly increased its position in Comcast Co. in the first quarter, with other institutional investors also adding to their stakes. Insider transactions included the sale of a large number of shares by the company's President. Several brokerages issued reports on Comcast, with varying ratings and target prices. Comcast recently reported earnings that surpassed estimates.
Full articleSummary: Medtronic initiated a clinical study to measure the performance of CoreValve Evolut PRO transcatheter aortic valve implantation system which could help gain traction in the Coronary & Structural Heart space. Medtronic's CSH revenues were up 7% driven by strong customer uptake of the CoreValve Evolut PRO platform. The global heart valve repair and replacement market is expected to grow significantly, indicating potential growth opportunities for Medtronic.
Full articleSummary: Kraft Davis & Associates LLC increased its position in shares of Alphabet Inc. by 0.9% in the fourth quarter. Analysts have given Alphabet a consensus rating of 'Moderate Buy' and a consensus price target of $187.82. Insider transactions include Director Frances Arnold and CFO Ruth Porat selling shares of the company. Alphabet announced a quarterly dividend of $0.20 per share.
Full articleSummary: Union Pacific had its price target raised to $270.00 by Susquehanna analysts, with a 'neutral' rating. Other brokerages like TD Cowen and BMO Capital Markets also raised their price targets for UNP. The stock currently has a consensus rating of 'Moderate Buy' with a target price of $258.78.
Full articleSummary: Comcast CEO and NBCUniversal chief are optimistic that the Summer Olympic Games in Tokyo will go forward as planned, with advertisers also showing optimism in buying advertising slots. The event is considered a ratings and advertising bonanza.
Full articleSummary: Tesla faces downward pressure on its bottom line, seeking new sources of revenue through cheaper EVs and automated driving capabilities. Shareholders responded positively to Elon Musk's plans. Valeo experiences lower sales in the EV sector and is adjusting to automakers' needs. Several startups in the EV and transportation space secure significant funding rounds.
Full articleSummary: Gilead Sciences received a "hold" rating from Needham & Company LLC analysts. The stock received multiple ratings changes recently, with analysts adjusting from "strong-buy" to "hold" and reducing price targets. However, Gilead Sciences beat earnings expectations in the latest quarter, with a positive return on equity and increased revenue.
Full articleSummary: Costco has been revamping its shopping app, adding features such as looking up old receipts, checking Executive rewards, managing prescriptions, checking gas prices, and storing membership card. The app lacks some features compared to competitors but provides useful perks for loyal Costco members.
Full articleSummary: U.S. bank stocks have been in a rout, but relief is expected after quarterly results are reported next month. Bank index down 16% since collapse of big regional players, but rebounded slightly after First Citizens BancShares Inc acquisition of Silicon Valley Bank. S&P 500 companies facing second straight decline in year-over-year earnings, with financials expected to post 5.4% growth in the first quarter of 2023.
Full articleSummary: Beaumont Financial Advisors LLC decreased its holdings in Alphabet Inc. by 0.2% in the 4th quarter, while other hedge funds also made changes to their positions. Analysts have recently upgraded Alphabet with price target increases and positive ratings. Insiders at Alphabet have been actively selling company stock. Alphabet reported strong quarterly earnings, beating EPS estimates and posting revenue of $86.31 billion.
Full articleSummary: Home Depot in New York has hired armed security guards and K-9 units to protect shoppers from aggressive migrants and thieves in the parking lots. Male migrants are accused of aggressively confronting shoppers, stealing items from carts, and harassing customers. The situation has prompted concerns about safety and theft at the store.
Full articleSummary: The US Treasury plans to maintain long-term debt sales steady as it anticipates relief from the Federal Reserve's securities holdings run-down. The Treasury is expected to hold off on further increases in its quarterly refunding auctions, with borrowing requirements increasing due to a growing federal deficit and the Fed's quantitative tightening program.
Full articleSummary: The Federal Reserve is inclined to sound less dovish due to robust data indicating strong economic growth and high inflation, leading to a more cautious approach towards policy easing. Market expectations have shifted towards fewer rate cuts in 2024 and 2025. Treasuries face pressure as the Fed remains focused on inflation threats, potentially pushing the 10-year Treasury yield towards 5%. The Fed is also expected to discuss balance sheet roll-off during the upcoming FOMC meeting.
Full articleSummary: The higher-for-longer interest rate environment is driving value investment strategies in Asia with cheap Chinese stocks and corporate reforms in Japan, South Korea, and India being attractive sectors for investment. Multi-asset managers are turning more selective in their approach due to hawkish pivot by central banks in Asia to protect currencies. China and Hong Kong equities are showing signs of improvement with neutral to overweight stance from emerging market funds. Japanese financials are favored due to growth revival and corporate reform push, while South Korea's chip sector and India's domestic consumption story are also areas of interest.
Full articleSummary: Costco has been improving its shopping app, receiving positive reviews. The app offers perks such as looking up old receipts, checking Executive rewards, managing prescriptions, checking gas prices, and storing your membership card.
Full articleSummary: Australian sharemarket set to open higher after a sour end to last week, US stocks had a positive week with gains led by Alphabet and Microsoft.
Full articleSummary: Apple is reportedly intensifying its talks with OpenAI for a potential partnership on on-device chatbot capabilities. Talks have also reopened with Google for bringing Gemini to iPhone. Apple is working on an AI upgrade to Siri that would better understand context on screen and running in the background.
Full articleSummary: Caltech has reached an agreement to terminate a patent case against Apple and Broadcom related to Wi-Fi chip infringement. The lawsuit has been withdrawn with prejudice, and details of the settlement were not disclosed. Previous jury orders for Apple and Broadcom to pay compensation were overturned by a US appeals court.
Full articleSummary: Bristol Myers Squibb (BMY) closed lower by -1.6% compared to the previous day, with analysts expecting a decline in earnings and revenue for the upcoming report. The company holds a Zacks Rank of #3 (Hold) with positive estimate revisions reflecting optimism about its business.
Full articleSummary: Tesla CEO Elon Musk visited China to introduce Full Self-Driving software, aiming for regulatory approval and facing challenges regarding data transfer. Additionally, Musk postponed a trip to India for investment talks. Tesla stock surged last week on plans for 'affordable' EVs and robotaxis despite concerns over self-driving systems.
Full articleSummary: Chevron Corporation (CVX) could be a stock to avoid as it is experiencing unfavorable trends with its moving averages and earnings estimate revisions, resulting in a Zacks Rank #5 (Strong Sell).
Full articleSummary: McDonald's stock has proven to be a solid investment with consistent EPS growth and stable dividend income. While investors may not expect market-crushing returns, McDonald's is likely to offer modest gains and dividend growth, supported by its high-margin revenue from franchisees and ongoing share repurchases.
Full articleSummary: Intel's latest 13th-gen Raptor Lake or 14th-gen Raptor Lake Refresh processors are facing instability issues due to unlocked, overclockable systems with disabled safeguards shipped by motherboard manufacturers in pursuit of pushing frequencies.
Full articleSummary: U.S. stocks expected to open lower due to weak economic data and potential interest rate hikes, leading to fears of recession. Major indices closed lower after poor job openings and factory orders data. Federal Reserve may continue with interest rate hikes to combat inflation. ADP private payroll report and other economic data to be released. Oil prices edge lower despite fall in U.S. crude inventories. Gold futures rise slightly.
Full articleSummary: Starbucks shares rose 0.9% during mid-day trading. Several research firms issued varied ratings on SBUX with a consensus of 'Hold'. The company reported a decrease in shares traded and announced a quarterly dividend of $0.57 per share.
Full articleSummary: Analysts Michael Turrin and Rishi Jaluria maintained Buy ratings on Five9. Turrin set a price target of $90.00, while Five9's market cap is $4.32B with a P/E ratio of -51.85. Insider sentiment is negative with increased selling.
Full articleSummary: 2 analysts expressed bullish sentiments on Saia (SAIA) and GE Aerospace (GE) in the Industrial Goods sector.
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