Summary: Apple is in talks with OpenAI and Google to bring AI to the next iPhone, expected iPhone 16 to be released this fall with AI-driven features incorporating generative AI and a chatbot similar to OpenAI's GPT model. CEO Tim Cook has been vocal about Apple's AI plans, including investments in technologies like artificial intelligence and new M4 processors focused on AI. Analysts predict a surge in Apple's stock due to the incorporation of AI.
Full articleSummary: Sundar Pichai, the CEO of Google, celebrated his 20th anniversary at the company by sharing a heartwarming note and picture on Instagram.
Full articleSummary: Alphabet, Google's parent company, reported first-quarter earnings that surpassed analyst estimates across various metrics, with revenues and earnings per share exceeding expectations. The company also announced a $70 billion stock buyback program.
Full articleSummary: Investors have been trying to predict the U.S. Federal Reserve's interest rate cuts but historical data shows that timing the market based on rate cycles may not lead to outperformance. Recent GDP numbers have increased the likelihood of a possible rate hike instead of a cut.
Full articleSummary: Apple users experiencing issues with being logged out of their Apple IDs on all devices without explanation, leading to locked accounts and password resets. Apple has not publicly addressed the issue yet.
Full articleSummary: Nvidia Corp. shares rallied back from a selloff as major clients like Meta Platforms, Alphabet, and Microsoft committed to significant AI investments, leading to a 15% increase in stock price and adding nearly US$290 billion in market capitalization. The surge reversed a 10% plunge from last week when fears regarding enthusiasm for chipmakers had caused the drop.
Full articleSummary: Intel has launched a new AI processor series, 'Amston Lake' Atom x7000RE chips, designed for industrial-class deep learning inference with improved performance and robust capabilities.
Full articleSummary: The Washington Capitals lost to the New York Rangers in Game 3 of their playoff series, putting them at a 3-0 deficit overall. Despite efforts from players like John Carlson and Max Pacioretty, the Capitals struggled on the power play and were unable to secure a win.
Full articleSummary: Google unveiled its first custom Arm-based CPUs, Axion, designed for data centers, promising significantly better performance and energy efficiency compared to current x86-based instances. The processors will be available to customers later this year.
Full articleSummary: Nvidia is working with the US government to ensure compliance with new chip export restrictions for the Chinese market, which may create opportunities for competitors in China. Huang mentioned plans to produce new products within certain limitations due to the regulations.
Full articleSummary: Nvidia's stock price has recovered by 15% this week, potentially impacting AI crypto tokens. Analysts are optimistic about Nvidia's performance influencing the AI market. Nvidia's Q1 2024 earnings report is anticipated, with many investors waiting for its release.
Full articleSummary: Markets see virtually no chance of a Fed rate cut at the latest Fed meeting on April 30-May 1. Economic growth has remained solid and inflation is turning higher, making July rate cut increasingly unlikely. Fed chief Jerome Powell's comments on rate cuts will depend on upcoming economic data like ISM manufacturing index for April and April jobs report. Investors have reduced expectations for rate cuts in the coming months.
Full articleSummary: David Gitlin exits the race for the top job at Boeing Co., Stephanie Pope remains a potential choice for CEO, while Pat Shanahan emerges as a strong contender. The board leans towards moving headquarters back to Seattle from Arlington, Va.
Full articleSummary: Republic First Bank, a regional lender operating in Pennsylvania, New Jersey, and New York, has been closed by Pennsylvania state regulators, making it the first U.S. bank failure in 2024.
Full articleSummary: JPMorgan Chase's shares jumped nearly 15% last month following strong first-quarter results which included a 5% rise in revenue and a 12% increase in earnings per share, surpassing Wall Street's estimates. The bank showed growth in various areas like its deposit base, retail loan portfolio, credit card sales volume, advisory revenue, debt underwriting, and investment banking revenue, achieving impressive growth while controlling expenses.
Full articleSummary: AMD has launched its latest mid-range graphics card, the RX 7900 GRE, worldwide, offering good performance at a competitive price. It performs better than the rival, the RTX 4070, in various benchmarks including gaming, rendering it a favorable choice for gaming enthusiasts.
Full articleSummary: 1st Source Corp ranked 14th best bank in America and top bank in Indiana by Forbes, CEO expresses pride in long-standing commitment to building strong balance sheet and sustainable earnings, CEO acknowledges team's efforts during challenging year for banking industry
Full articleSummary: Alphabet Inc. (NASDAQ:GOOGL) reported strong earnings results, beating forecasts with revenue of US$81b and EPS of US$1.89. Analysts are more bullish on earnings growth, predicting a 13% increase in EPS for 2024. The consensus price target for the stock rose 9.8% to US$183, reflecting higher earnings estimates.
Full articleSummary: Microsoft announced partnership with Coca-Cola for Azure AI-based software, leading to stock rise; Alphabet stock surged with AI-driven businesses readiness; Tesla presented bold AI vision with focus on autonomous vehicles and AI computing power of parked vehicles.
Full articleSummary: Republic First Bank has been closed down by US regulators and will be acquired by Fulton Bank due to financial troubles. Fulton Bank will takeover all the deposits and assets of Republic Bank to protect depositors. All Republic Bank branches will be rebranded as Fulton Bank's branches.
Full articleSummary: The surge in artificial intelligence (AI) development is driving interest towards utilities sector, which is gaining momentum due to the high power demands of data centers. Companies like Southern Co. and NextEra Energy Inc. are poised to benefit from the increased electricity needs for AI expansion.
Full articleSummary: Truist Financial Corp reduced its position in MetLife by 11.4% in the 4th quarter. Several other institutional investors also made changes to their positions. Recent analyst ratings changes include price target increases and rating upgrades to 'buy'. MetLife recently declared an increased quarterly dividend, reflecting a positive change.
Full articleSummary: Microsoft and Alphabet reported strong earnings driven by their AI initiatives, with both companies showcasing solid results in the past quarter. Wall Street's top analysts are recommending investors to buy into these mega-caps.
Full articleSummary: Microsoft and Alphabet reported strong results driven by their AI initiatives, leading top analysts to recommend investing in these 'Magnificent 7' stocks. Microsoft's revenue was above forecast thanks to AI-related segments like Azure, while Alphabet's success in online advertising grew with AI improvements in Google's search engine ad functionality and search results.
Full articleSummary: Microsoft is positioned to continue its dominant run as the AI revolution unfolds, having made significant moves in the AI space with investments in OpenAI and integration of ChatGPT in various applications.
Full articleSummary: PGGM Investments raised its position in Comcast Co. by 41.3% in the 4th quarter, with its holdings in Comcast worth $22,068,000. Several other large investors also increased their positions in Comcast. Comcast stock traded up 1.8% on Friday, reaching $38.57.
Full articleSummary: Unique Wealth Strategies LLC acquired a new stake in Booking Holdings Inc. and several other institutional investors also modified their holdings of BKNG. Booking announced its quarterly earnings beating the consensus estimates. The company also disclosed a dividend and Wall Street analysts forecast growth with an average price target of $3,723.41.
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