Summary: Facebook co-founder Dustin Moskovitz has compared Tesla to Enron, alleging that Tesla misled consumers on a massive scale. Tesla CEO Elon Musk responded by insulting Moskovitz. The US's top auto-safety regulator is investigating Tesla's Autopilot system following concerns over crashes.
Full articleSummary: Lowe's Companies is currently undervalued, with an intrinsic value of $326.95 compared to the current trading price of $230. The stock is considered a bargain due to potential for price increase based on its volatile nature. However, future profit growth is expected to be relatively muted at 2.2% over the next couple of years.
Full articleSummary: Bahl & Gaynor Inc. increased its stake in Amgen Inc. by 36.2% in the 4th quarter, several other institutional investors also made changes to their positions. Amgen announced a quarterly dividend of $2.25 per share on June 7th. Analysts have given Amgen a consensus rating of 'Moderate Buy' with an average price target of $296.95.
Full articleSummary: Chevron reported $5.4 billion, or $2.93 per share, of adjusted earnings for the first quarter, down from the year-ago period but above analyst expectations. The company's integrated business model allowed its U.S. upstream operations to offset the impact of lower natural gas prices and refining margins. Chevron continues to generate significant cash flow, invest in capital projects, and return cash to shareholders, with a focus on building lower-carbon businesses. Its robust balance sheet positions it well for long-term success in the energy market.
Full articleSummary: Bahl & Gaynor Inc. decreased its stake in RTX Co. by 19.7% during the 4th quarter, while several other large investors also adjusted their positions in RTX. RTX stock value declined by 0.3%. RTX also announced a quarterly dividend.
Full articleSummary: Bahl & Gaynor Inc. reduced its position in Texas Instruments by 6.5% during the 4th quarter. Insider activity shows Director Mark A. Blinn selling company's stock shares. Analysts have set new price targets for Texas Instruments. Several hedge funds have made changes to their positions in the company.
Full articleSummary: Opinicus Capital Inc. bought a new position in Bank of America Co.'s stock in the 4th quarter, along with several other institutional investors increasing their stakes in the company. Bank of America also announced a quarterly dividend. Wall Street analysts have given varied ratings to Bank of America, with a consensus rating of 'Hold' and a price target of $38.53.
Full articleSummary: Chevron Co. announced a quarterly dividend with a yield of 3.93%, raised its dividend annually for the last 37 years, and beat analysts' expectations in its recent earnings report.
Full articleSummary: K.J. Harrison & Partners Inc acquired a new stake in United Parcel Service, Inc. during the 4th quarter, along with several other institutional investors and hedge funds. The stock performance shows a steady increase in trading volume with a recent trading price of $147.59. Analysts have set various price targets and ratings for the company. Insiders also made notable purchases of the stock.
Full articleSummary: Truist Financial Corp reduced its stake in Honeywell International Inc. by 6.9% in the 4th quarter. Several other hedge funds and institutional investors also adjusted their positions in the company. Analysts have recently provided various ratings on the stock including an 'overweight' rating, a 'sector perform' rating, a 'hold' rating and a 'buy' rating. Honeywell International reported earnings above analysts' estimates for the quarter and announced a quarterly dividend.
Full articleSummary: Bahl & Gaynor Inc. significantly increased their holdings in PayPal Holdings, Inc. during the 4th quarter, as per the latest 13F filing. Several other hedge funds have also bought new positions or raised their stakes in PayPal. Additionally, analysts have mixed ratings on the stock, with some upgrading it to 'buy' and others maintaining a 'hold' rating. Insider transactions show recent selling activity. PayPal's stock price saw a 2.9% increase recently.
Full articleSummary: Citizens Financial Group Inc. RI increased its holdings in Caterpillar Inc. by 43.9% in the 4th quarter, while several other hedge funds and institutional investors have also modified their holdings of CAT. Insiders at Caterpillar have been active with both purchases and sales of company stock. Wall Street research firms have given mixed ratings for CAT.
Full articleSummary: Russell Investments Group Ltd. increased its stake in Eli Lilly and Company by 1.6% during the 4th quarter, owning 516,804 shares worth $301,107,000. Several other institutional investors also modified their holdings of LLY. A major shareholder sold 78,573 shares of Eli Lilly and Company stock on January 31st.
Full articleSummary: Gilead Sciences reported a revenue of US$6.69b, up 5.3% from the first quarter of 2023, however, the company experienced a net loss of US$4.17b resulting in a loss per share of US$3.34. The revenue beat expectations by 5.3% but earnings per share fell short by 74%. Analysts forecast a 2.3% average annual revenue growth for the next 3 years compared to the 18% growth forecast for the Biotechs industry in the US. Gilead Sciences shares are down 2.0% from a week ago.
Full articleSummary: Tesla, Inc. is preparing to lay off 693 workers at its Sparks, Nevada location due to declining sales and increased competition within the electric vehicle market. The company also announced price cuts for electric vehicles in China and the US in an effort to spur sales and address rising inventories.
Full articleSummary: Earnings season started erratically with tech companies reporting mixed results affecting stocks like Netflix and Tesla. Energy stocks like Chevron and Exxon are in focus due to rising oil prices and earnings reports. Chevron beat estimates while Exxon missed, leading to different reactions in the stock market. Market guru Louis Navellier suggests diversifying into energy stocks, particularly focusing on two MLPs in energy sector with strong fundamentals and growth potential.
Full articleSummary: Motherboard manufacturers offer solutions to compatibility issues between NVIDIA graphics cards and Intel processors of 13th and 14th generations by releasing BIOS updates with new settings to resolve video memory errors and stability issues when compiling shaders in games. The updates include enabling Intel Baseline Profiles and lowering power limits.
Full articleSummary: BlackRock Credit Allocation Income Trust's stock price crossed below its two hundred day moving average during trading on Friday. The stock traded as low as $10.06 and last traded at $10.09 with a volume of 417,431 shares trading hands. The firm also disclosed a monthly dividend of $0.084 per share, with an ex-dividend date of April 12th.
Full articleSummary: JTC plans to acquire First Republic Trust Company, a subsidiary of JPMorgan Chase Bank, to expand its Personal Client Services division. The acquisition aims to enhance JTC's position as an independent provider of trust services in the US.
Full articleSummary: Chevron delivered steady results in the first quarter of the year, with strong U.S. upstream business offsetting the impact of weaker natural gas prices and refining margins. The company generated solid cash flow, increased investment in capital projects and lower-carbon businesses, and continued to generously return cash to investors through dividends and share buybacks. Chevron's elite balance sheet allows it to withstand market volatility and maintain substantial investor returns.
Full articleSummary: Alphabet's stock closed above the $2 trillion market cap for the first time, reaching rarefied territory alongside Apple, Microsoft, and Nvidia. Despite volatile performance, Wall Street analysts remain positive, with earnings and revenue growth expected to continue through 2026.
Full articleSummary: Alphabet Inc. closed above a $2 trillion market capitalization for the first time after a standout earnings report on the strength of AI, leading to a $200 billion market cap increase. The company introduced a dividend and a $70 billion buyback program, with strong growth expected.
Full articleSummary: Google broke ground on a $2 billion data center in Fort Wayne, Indiana, with plans to invest an additional $1 billion in expanding existing data center campuses in Virginia. The company also announced a skilled trade career development program and collaboration with Indiana Michigan Power Co. to bring clean energy to the local grid.
Full articleSummary: McDonald's has improved the thickness of their paper straws by 30% after receiving complaints from customers, in a bid to enhance the customer experience.
Full articleSummary: Warren Buffett still owns Apple (NASDAQ: AAPL) due to its strong brand, potential for high returns, beneficial capital allocation policies, and his long-term investment strategy. Despite the stock's skyrocketing performance, Buffett sees it as a valuable asset in Berkshire Hathaway's portfolio.
Full articleSummary: Alphabet announced a $70 billion stock buyback and its first-ever dividend, leading to a significant increase in stock price and market cap. Google CEO Sundar Pichai highlighted the importance of AI offerings in core search results during the quarter that exceeded expectations in sales, profit, and advertising revenue.
Full articleSummary: Fulton Financial Corp. of Lancaster is set to double its presence in the Philadelphia area by taking over $4 billion in customer deposits, nearly $3 billion in loans, and 30 branches from Republic Bank of Philadelphia, which was seized by Pennsylvania banking regulators. The takeover is expected to expand Fulton's presence in the region significantly.
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