Summary: Alphabet and Microsoft help drive U.S. stocks to best week since November as S&P 500 closes with 1% gain. Alphabet surged 10.2% after strong profit results and buyback program, while Microsoft rose 1.8% on better-than-expected profit and revenue from cloud-computing business. Intel, however, dropped 9.2% despite beating profit estimates.
Full articleSummary: Medtronic is launching the Inceptiv SCS, a new spinal cord stimulation system that offers real-time adjustments to stimulation based on the body's response. It provides full-body MRI access without restrictions and is designed for patient comfort, offering multiple types of waveforms and a mobile application for therapy guidance. The system has already been approved for sale in Europe and Japan, and will soon launch in the U.S.
Full articleSummary: The dollar rose on hawkish comments from Fed officials but was weighed down by bearish economic reports. Precious metals posted gains due to lower bond yields and expectation of Fed rate cuts.
Full articleSummary: Deere is showing promising trends with a growing Return on Capital Employed (ROCE) of 23% and a 43% increase in capital employed over the last five years. These indicate potential for further internal investments at higher rates, traits commonly seen in successful companies.
Full articleSummary: Tesla's petition to release land from Austin's ETJ approved, raising concerns for environmental regulations, residents prefer city regulations over county's unclear ones.
Full articleSummary: Dustin Moskovitz, co-founder of Facebook and Asana, accused Tesla of 'massive fraud' likening it to Enron due to concerns over FSD technology reporting and accusations of consumer and securities fraud.
Full articleSummary: Microsoft's Co-Pilot, powered by AI, is being widely adopted by Fortune 500 companies. AI is transforming enterprise applications, improving productivity and saving time for users. The HR tech market is expected to be disrupted by AI implementation.
Full articleSummary: State-sponsored actors targeted security devices used by governments globally, including Virtual Private Network services; Cisco Systems named the campaign 'ArcaneDoor' and released software updates to address the vulnerabilities; Various cybersecurity agencies are warning customers to patch their devices quickly.
Full articleSummary: CERT-In issued an advisory over three serious vulnerabilities in Cisco products, allowing hackers to gain access and steal data. Attackers could execute arbitrary commands, cause denial of service, and gain root-level privileges.
Full articleSummary: Tesla has increased the price of the Model 3 Performance by $1,000 shortly after its release, despite the fact that it is cheaper than the Long Range Model 3 after applying the US Federal EV Tax credit. The Performance model enhancements have received positive reviews, leading to a price increase, along with a reduction in the cost of some paint and interior options.
Full articleSummary: UPS investors were initially unimpressed with the company's three-year strategic aims and financial targets presented in late March, but the recent first-quarter earnings report helped restore confidence in those targets, leading to the question of whether the stock is a buy.
Full articleSummary: Apple's upcoming 'Let Loose' event may include an accompanying event in London for journalists to receive hands-on time with new products, including two new iPad Pro models, two new iPad Air models, an updated Apple Pencil, and a redesigned Magic Keyboard for iPads. There is speculation about the possibility of the Vision Pro headset being launched internationally in the UK before WWDC.
Full articleSummary: Exxon Mobil's profit declined in Q1 as natural gas prices fell and refining margins dropped, missing Wall Street expectations. The company's revenue also decreased from a year earlier. Despite production in Guyana exceeding expectations, Exxon's shares slipped 2.7% before market open. The company made significant acquisitions in the previous year when oil prices were high, including buying Denbury Resources and Pioneer Natural Resources.
Full articleSummary: Google is making new investments in technical infrastructure and social impact, including $3 billion to expand data center campuses in Virginia and Indiana, as well as launching a $75 million Google AI Opportunity Fund to provide AI skills training to one million Americans.
Full articleSummary: Exxon Mobil CEO challenged Chevron-Hess deal over Guyana as it diminishes value to ExxonMobil
Full articleSummary: Cisco reported ArcaneDoor vulnerabilities affecting ADP, but ADP's Global Security Organization is actively assessing for any impacts and prioritizing necessary remediation. As of now, no intrusion or data access has been identified.
Full articleSummary: Pfizer's BEQVE has been approved by the FDA for treating hemophilia B, providing a one-time treatment option that enables patients to produce FIX themselves. Pfizer is also launching a warranty program based on durability of patient response to treatment.
Full articleSummary: Ford announces a recall for its Transit Trail vans due to larger tires causing rubbing issues on the fenders and frames. The fix involves replacing the large, durable tires with smaller ones, which has raised concerns among customers who valued the larger and sturdier tires for off-road adventures.
Full articleSummary: Apple Inc. is in discussions with OpenAI to utilize the startup's technology for new iPhone features in iOS 18.
Full articleSummary: Federated Hermes Inc. increased its stake in Booking Holdings Inc. by 1.0% in the fourth quarter according to its recent Form 13F filing with the SEC. Several other institutional investors also bought and sold shares of the stock. Additionally, Booking announced a dividend and there was insider activity with share sales.
Full articleSummary: Oracle announced a collaboration with the Singapore government to train up to 10,000 students and professionals in digital technologies by 2027, offering internships, apprenticeships, and certifications in AI, cloud, cybersecurity, and data science.
Full articleSummary: Apollo Global Management, KKR & Co, and Stonepeak may invest billions in a joint venture to help fund Intel's semiconductor fabrication facility in Ireland.
Full articleSummary: Meta is investing $35 billion in AI this year, increasing spending on AI products and metaverse development. Industry experts are debating the financial viability of these investments and predicting that the returns might be far off. Companies like Meta are likely to adopt a blended business model to profit from their AI models, including subscriptions and advertising.
Full articleSummary: Jennison Associates LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter with several other institutional investors also adding to their stakes. In other news, Intuit announced a quarterly dividend and there have been insider transactions within the company.
Full articleSummary: Hess Corp sets May 28 special shareholders meeting to vote on Chevron's $53 billion buyout offer with ongoing regulatory and legal challenges.
Full articleSummary: Caterpillar has received price target adjustments from multiple analysts, with a range of $175 to $441. Stifel downgraded Caterpillar from Buy to Hold while raising the price target to $350, Bernstein adjusted the price target to $299, and TD Cowen increased it to $340.
Full articleSummary: Exxon Mobil Corporation reported a decline in first-quarter earnings for 2024, with adjusted profit per share below estimates. Revenue also decreased due to lower oil refining margins and natural gas prices. Net income dropped from the same period last year.
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