Summary: Starbucks is permanently closing its Trenton's only Starbucks Community Store. The closure, which initially seemed reversible, is now confirmed to be happening, leading to the final closure on Saturday.
Full articleSummary: Bank of America shareholders voted to increase the number of shares available under the Equity Plan by 100 million during the Annual Meeting. Additionally, all director nominees were elected and other corporate matters were endorsed. However, proposed shareholder resolutions on politicized de-banking, lobbying alignment with climate goals, and written consent rights were rejected.
Full articleSummary: Costco customer returned a 20-year-old car part, sparking discussion on Costco's lenient return policy and how it benefits the retailer. Costco likely profits from these returns by anticipating that customers will spend more money in-store after returning items. The retailer's massive profits make accepting such returns negligible in impact.
Full articleSummary: Oracle Financial Services Softwa announced their Q4 results with a topline growth of 11.69% and a profit increase of 16.86% YoY. However, there was a decline in revenue and profit compared to the previous quarter. Operating income increased YoY but decreased QoQ. EPS for Q4 saw a 16.42% increase YoY. Stock performance showed positive returns in the long term.
Full articleSummary: Intel confirms that the 18A process Panther Lake CPU generation is on track for a mid-2025 release, part of Intel's roadmap focusing on increasing AI performance with upcoming chipsets like Lunar Lake, Arrow Lake, and Panther Lake.
Full articleSummary: Alphabet (GOOGL) surpasses analysts' revenue estimates for the quarter with a 15% growth rate, primarily driven by strong performance in ad sales at YouTube. The company's stock jumps by 12% in extended trading, pushing its market cap above $2 trillion. Revenue in Google Cloud, housing AI technology, rises by 28% from the previous year, indicating substantial profits in the AI sector.
Full articleSummary: Apple's production of Vision Pro headset is reportedly being cut to 400,000-450,000 units, sparking concerns about demand and sales, despite potential revenue of $1.4 billion from sales. Analysts highlight the negligible impact on Apple's overall revenue and emphasize the headset's role in future platform development. Although the headset has received praise for its features, there are still improvements needed for long-term success.
Full articleSummary: Raytheon Technologies Corporation (RTX) is shifting focus from being a space prime contractor to a supplier of payloads, sensors, and components to other companies, as announced by its president and COO during an earnings call. The company withdrew from a fixed-price contract for missile tracking satellites and has experienced losses in classified programs.
Full articleSummary: Chevron Corp. subsidiary argued to toss a $120 million verdict due to a juror's concealment of a prior conviction for child molestation, with judges skeptical of the argument.
Full articleSummary: CEO of wireless infrastructure group expresses readiness to pursue M&A opportunities in Europe despite competitors being hesitant in the current financing environment. Recent investment from BlackRock has boosted confidence for further deal-making and claims advantage over carrier captive rivals.
Full articleSummary: Disneyland Paris recently ended a partnership with Mastercard as part of significant changes happening at the resort with several areas undergoing construction. The partnership ending affects how the theme parks operate and impacts the guests' experience.
Full articleSummary: Google has patched a security loophole in the Android TV account system that allowed attackers physical access to a device to gain access to the user's entire Google account by sideloading apps. The issue was brought to light by Senator Ron Wyden and subsequently addressed by Google.
Full articleSummary: IBM released a new storage lifecycle management subscription option, IBM Storage Assurance, complementing existing services with regular upgrades and including the new FlashSystem 5300, competing with other flash vendors like Pure Storage Evergreen. The offering includes FlashCore Modules for additional features such as compression and ransomware detection.
Full articleSummary: Nike opened a temporary store in Portland while renovating its permanent downtown store. The temporary store offers a downsized assortment of products. Nike has been focusing on growing direct and digital sales since 2017.
Full articleSummary: Lockheed Martin wins $4.15 billion in F-35 fighter jet defense contracts, including production of 40 F-35 Lightning II fighter jets of various varieties.
Full articleSummary: US auto-safety regulators have found at least 13 fatal crashes involving Tesla's Autopilot, leading to concerns about driver misuse and safety gaps. Tesla's recall for 2.03m vehicles to ensure driver attention is being investigated for adequacy. Consumer Reports testing found that Tesla's Autopilot recall update did not sufficiently address safety concerns raised by NHTSA.
Full articleSummary: Google announced its first-ever dividend, $70 billion share buyback, hit $2 trillion market cap, and reported strong Q1 2024 earnings. The company is making progress in monetizing AI and improving advertising tools.
Full articleSummary: Union Pacific's first-quarter profit crept 1% higher as the railroad tightened up on expenses, despite slightly less freight shipped. Revenue was down slightly due to decreased fuel surcharge revenue and fuel prices falling, but earnings per share still exceeded analysts' expectations. The CEO highlighted operational improvements and efficiency metrics.
Full articleSummary: Ford reported significant losses on EVs in the first quarter but is promising lower-priced models in the future. The company is facing challenges with revenue dropping faster than cost reductions, but aims to improve profitability through next-generation EVs and cost-cutting measures.
Full articleSummary: Capital One is fully mobilized for its pending acquisition of Discover, aiming to create a diversified global payments platform. The merger applications have been filed and the technology transformation is expected to cost $2.8 billion. Many financial institutions are preparing for increased M&A activities in 2024.
Full articleSummary: Salesforce Chair and CEO, Marc Benioff, reported selling 15,000 shares of Salesforce common stock for a total sale amount of $4,074,497.
Full articleSummary: Amazon is offering a discount on Apple's latest MacBook Air with the M3 chip, making it the lowest price yet. Engadget considers this model the best laptop for most people and also the top pick for the best MacBook available. Meanwhile, the previous model with the M2 chip has seen a permanent price cut, making it an attractive budget option.
Full articleSummary: IBM introduced a new solution, the IBM Storage Assurance program, providing access to the latest FlashSystem hardware and software, aiming to enhance data center performance and efficiency. The program offers streamlined IT lifecycle management, regular updates, advanced performance and security features, cost transparency, flexibility, and comprehensive support.
Full articleSummary: PepsiCo issued a voluntary recall for Mug Root Beer due to mislabeling, affecting over 2,000 cases in six US states.
Full articleSummary: Microsoft and IBM have released the source code of MS-DOS 4.00 under the open-source MIT license, along with beta binaries, documentation, and disk images.
Full articleSummary: Amazon is considered a great AI play to buy and hold forever due to its investments in the field, strong position in e-commerce and cloud computing, and culture of innovation and customer satisfaction.
Full articleSummary: IBM, the Government of Canada, and the Government of Quebec announced agreements to strengthen Canada's semiconductor industry with a combined investment valued at approximately $187M CAD. IBM will enhance assembly, testing and packaging capabilities for semiconductor modules at its plant in Quebec, with a focus on telecommunications, high performance computing, automotive, aerospace & defence, computer networks, and generative AI. R&D will be conducted to support the packaging of different chip technologies and advance Canada's role in the North American semiconductor supply chain.
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