Summary: Exxon Mobil Corp. and Chevron Corp. are investing over $100 billion in acquisitions as they predict a 10% increase in production in the Permian Basin, the US region supplying more oil than Iraq.
Full articleSummary: Morgan Stanley recommends investors to buy big tech-related stocks like Nvidia and Apple before their quarterly results. They also favor stocks such as Dell, Keysight Technologies, Apple, and Fortinet as earnings season continues.
Full articleSummary: Google plans to invest $2 billion in building a new data center in northeastern Indiana to support AI technology and cloud business, creating up to 200 new jobs.
Full articleSummary: Microsoft has announced nearly $10 billion in investments in artificial intelligence abroad to remain competitive in the market, attributing its stellar earnings to delivering on AI's promise.
Full articleSummary: Microsoft plans to shed millions of square feet of offices, saving $1.5 billion in yearly rents by 2028. The tech giant has already vacated some offices and expects to reduce costs on office lease, while increasing expenses on data centers and R&D centers
Full articleSummary: Stock markets returned higher with all major indices making solid gains. S&P 500, Dow Jones, Nasdaq, Dax 30 surged after bullish reversal, fueled by positive tech results overshadowing inflation worries. Inflation data and strong earnings reports contributed to market rally.
Full articleSummary: PFG Investments LLC significantly increased its stake in Oracle Co. by 204.0% in the 1st quarter, with holdings worth $4,641,000. Several other hedge funds have also added to their positions in ORCL. Oracle announced a quarterly dividend of $0.40 per share. Research analysts have issued various ratings, with a consensus target price of $130.76.
Full articleSummary: Chevron posted a profit of $5.5 billion in the first quarter, down from $6.57 billion a year ago. Despite plans to invest in renewable energy, the company is feeling the impact of weak energy prices and fuel margins.
Full articleSummary: Bahl & Gaynor Inc. reduced its position in PepsiCo, Inc. by 3.6% in the fourth quarter, with institutional investors modifying their holdings, while Wall Street analysts forecast growth and issued various ratings on PEP stock. PepsiCo announced its quarterly dividend and reported quarterly earnings results above estimates.
Full articleSummary: Exxon Mobil reported a decline in key financial results in the first quarter of 2024, with revenue down by 1.3% and net income down by 28% compared to the same period in 2023. The profit margin also decreased from 14% to 9.9% due to higher expenses. While revenue beat analyst expectations, EPS fell short.
Full articleSummary: MSI is shifting focus from AMD Radeon GPUs to NVIDIA RTX GPUs due to higher user interest, although they are not completely discontinuing AMD products.
Full articleSummary: Wells Fargo is closing its branch in New Haven, Connecticut, among other locations, leading to disappointment and inconvenience for long-time customers and contributing to a larger trend of bank closures in the state.
Full articleSummary: Thermo Fisher Scientific Inc. (NYSE:TMO) released its latest quarterly results, with shares gaining 5.3% to US$574, reporting US$10b in revenue in line with analyst forecasts and beating EPS expectations. Analysts maintain their earnings forecasts and price target. Revenue growth is expected to slow down compared to historical growth rates and industry estimates.
Full articleSummary: Russia and Ukraine renewed attacks on energy facilities, causing damage and fires. Ukraine struck Russian oil refineries with drones, leading to fires at the facilities. Kremlin reiterated no grounds for peace talks due to Kyiv's refusal to negotiate with Moscow.
Full articleSummary: Portland State University is pausing seeking or accepting further gifts or grants from Boeing Co. in response to demands from students and faculty due to Boeing's weapons manufacturing divisions and connections to Israel amid the war in Gaza.
Full articleSummary: Zacks Research increased Q1 2025 earnings per share estimates for Emerson Electric, several analysts raised target prices and ratings for the stock, the company reported a strong quarterly revenue growth.
Full articleSummary: Hunter Associates Investment Management LLC increased its stake in JPMorgan Chase & Co. by 8.6% in the fourth quarter according to its Form 13F filing. Several other institutional investors and hedge funds also increased their holdings in JPM. JPMorgan Chase & Co. raised its dividend, and insiders have been selling company stock. Multiple brokerages have given positive ratings and price targets for JPM stock.
Full articleSummary: Ipswich Investment Management Co. Inc. decreased its stake in JPMorgan Chase & Co. during the fourth quarter, while other hedge funds added to their positions. Wall Street analysts forecast growth for JPM. Insider activity includes recent stock sales by General Counsel and Vice Chairman of JPMorgan Chase & Co.
Full articleSummary: WP Advisors LLC increased its stake in JPMorgan Chase & Co. by 2.0% during the 4th quarter, holding approximately 1.2% of the company's shares worth $3,144,000. The firm is optimistic about JPMorgan Chase & Co.'s stock performance and recent dividend increase.
Full articleSummary: Intel's stock has not performed as well as expected over the last decade, only showing a total gain of 31.98% or 3.19% average annual returns. Comparatively, investing in the index fund tracking the S&P 500 (SPY) would have resulted in a 169.15% increase in price or around 16.91% average annual returns over the same period. Intel has been facing challenges with declining market share to competitors like AMD and Nvidia, operational delays, and missed opportunities in emerging markets like mobile device processing and artificial intelligence.
Full articleSummary: Bristol-Myers Squibb reported first quarter 2024 results with revenue increasing by 4.7% from 1Q 2023, but a net loss of US$11.9b compared to a profit in the previous year. Revenue beat analyst estimates by 3.6% while earnings per share missed estimates by 22%. The company's shares are down 8.3% from a week ago.
Full articleSummary: Charter Communications reported first quarter 2024 results showing flat revenue compared to the same period last year, but an increase in net income, profit margin, and EPS. However, the EPS missed analyst expectations by 2.5%. The company's shares are down 4.0% from a week ago.
Full articleSummary: Chevron (CVX) reported first quarter 2024 results with a decrease in revenue, net income, profit margin, and EPS compared to the same period last year. Despite revenue falling short of estimates, EPS beat expectations. The company's shares have increased by 3.7% from a week ago. However, there is a warning sign that investors need to consider.
Full articleSummary: Intel released an update addressing stability issues in their 14th & 13th Gen CPUs, attributing the problems to motherboard and system makers not following recommended settings, leading to serious performance drops of up to -15% when fixed.
Full articleSummary: NASA astronauts Suni Williams and Butch Wilmore have entered quarantine at Kennedy Space Center ahead of a test launch to the International Space Station on Boeing's Starliner spacecraft. The mission targeting a launch from Cape Canaveral Space Force Station on United Launch Alliance's Atlas V rocket. NASA has given the GO to proceed with launch after Flight Readiness Review of the vehicle.
Full articleSummary: The major U.S. stock indexes closed higher for the week, driven by strong earnings reports from companies like Alphabet and Microsoft. Big Tech reports suggest positive outcomes for Nvidia and Broadcom. The upcoming week is expected to be earnings-focused, with several macroeconomic reports also due.
Full articleSummary: Alphabet Inc's market capitalisation surpasses US$2 trillion for the first time after a powerhouse earnings report, driven by strong cloud-computing and AI growth. The stock rose 10% in a single day, resulting in a valuation of US$2.15 trillion.
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