Summary: The FDA has approved Pfizer's one-time gene therapy, Beqvez, for adults with moderate to severe hemophilia B, which helps patients produce FIX themselves and reduces bleeds post-treatment. The approval was based on a Phase 3 study BENEGENE-2.
Full articleSummary: Cisco announced HyperShield, an AI-driven security infrastructure set to debut in August 2024. HyperShield uses eBPF to gain deep visibility, automatically search for vulnerabilities, and apply patches, promising proactive cybersecurity, increased SecOps efficiency, and better compliance with regulations. The solution will have a profound impact on the industry by providing scalable, efficient, and secure network security architecture.
Full articleSummary: Shares of Nvidia (NASDAQ:NVDA) jumped 6.2% in the afternoon session following strong earnings from big tech companies including Microsoft and Alphabet, highlighting the demand for AI solutions. The company is expected to continue meeting growing market demand within the AI space.
Full articleSummary: Google parent Alphabet crossed the $2 trillion market capitalization threshold on Friday, while Microsoft's stock rose after reporting strong earnings and Intel's stock fell due to a revenue outlook miss.
Full articleSummary: Charter Communications reported first-quarter financial and operating results, including a decrease in Internet customers, revenue growth driven by mobile and Internet services, and an increase in total customer relationships.
Full articleSummary: Charter and Comcast are facing difficulty convincing all internet customers to include wireless in their plans due to customer inertia, with a survey showing that many respondents are happy with their current wireless provider. However, analysts at TD Cowen believe there is still opportunity for Charter and Comcast to convert about 7.5 million more subscribers by utilizing marketing strategies and promotions.
Full articleSummary: Boeing closed a deal with GKN Aerospace and Melrose Industries for a plant in St. Louis, transitioning operations in support of F/A-18 and F-15 jet programs to Boeing and hiring GKN's St. Louis workforce of about 550 people.
Full articleSummary: Employees at CVS Health's unit Omnicare in Las Vegas voted in favor of joining the Pharmacy Guild, becoming the first location at the national pharmacy chain to join the union.
Full articleSummary: Oracle (NYSE:ORCL) has outperformed the market over the past 5 years by 4.75% on an annualized basis with an average annual return of 16.36%. Current market capitalization of Oracle stands at $324.35 billion. Compound returns are highlighted as significant for cash growth over time.
Full articleSummary: A former top executive at Tesla unloaded more than 1 million TSLA shares for around $181.5 million. Tesla stock is testing resistance at its 10-week moving average, indicating a critical level for its performance. Tesla shares jumped 14.4% in the week following the first-quarter earnings report.
Full articleSummary: Oracle introduces new capabilities to Oracle Fusion Cloud Applications Suite to empower healthcare organizations in driving operational efficiency, employee empowerment, and improved patient outcomes.
Full articleSummary: Tokyo Disneyland will be closing its version of the attraction Buzz Lightyear’s Astro Blasters in October 2024 and replacing it with a shooting attraction inspired by Wreck-It Ralph, set to debut in 2026.
Full articleSummary: Delta Air Line Boeing aircraft had to return to New York's JFK airport after an emergency slide fell off from the right wing, landing safely with 176 customers on board, crew members observed the issue and flight proceeded to LAX on another aircraft.
Full articleSummary: Bank of America Corp (NYSE:BAC) stock experienced a sharp pullback to the 80-day moving average, but has since recovered and broken above key technical levels. Options traders have been bearish in the last two weeks, despite the stock showing strength in price action. The stock's premium is reasonably priced at the moment, with potential for upgrades from brokerage firms.
Full articleSummary: Microsoft and Google surpassed Wall Street estimates in their latest quarter, driven by a surge in cloud revenue attributed to AI services. Both companies are seeing healthy growth in cloud infrastructure demand and the adoption of AI solutions by customers. Google's cloud operation posted a profit of $900 million, well ahead of projections, while Microsoft's Azure sales climbed 31% in the quarter, with 7% attributed to AI.
Full articleSummary: Nvidia's stock price bounced back after suffering a 10% plunge, driven by positive sentiment from investors capitalizing on the dip and strong earnings reports from tech giants highlighting high AI investments. Nvidia's year-to-date stock performance was the best in the portfolio, surging more than 15% during the week.
Full articleSummary: Analyst James Faucette from Morgan Stanley maintained a Hold rating on PayPal Holdings (PYPL) due to a mix of factors including cautious optimism in a challenging environment. Investors are anticipating short-term gains but wary of long-term challenges.
Full articleSummary: Meta's median employee salary in 2023 was over $379,000, similar to rivals like Google and Amazon. The company has laid off workers and is investing heavily in AI.
Full articleSummary: Boeing plane made emergency landing in NY after an emergency slide fell off, FAA investigating. Boeing's share prices plummeted due to safety incidents, including 737 Max grounding. FAA criticized Boeing for prioritizing 'production over safety and quality'
Full articleSummary: Staff at CVS Health's unit Omnicare in Las Vegas voted to join the Pharmacy Guild, becoming the first location at the national pharmacy chain to join the union, signaling potential labor issues in the industry.
Full articleSummary: Nike released the Air Jordan 3 Retro in a new colorway, and the sneaker is already out of stock in select sizes. The classic sneaker boasts a leather upper, foam midsole, and rubber outsole. Michael Jordan famously wore the original Air Jordan 3 in the 1988 Slam Dunk Contest.
Full articleSummary: Starbucks is closing its only location in downtown Trenton despite efforts from local officials to keep it open. The company will shut its doors at the end of March but has helped employees find work at nearby locations.
Full articleSummary: Wall Street analysts are bullish on Alphabet and Microsoft after first quarter earnings reports, with prominent firms raising price targets for both stocks.
Full articleSummary: Meta (formerly Facebook) shares dropped 15% after announcing plans to increase spending on artificial intelligence, erasing $190bn in market value. The company is expanding AI products like Llama 3 and Meta AI to international markets.
Full articleSummary: Apple is expected to release iOS 18 at its Worldwide Developers Conference, which could bring significant updates and features to iPhones such as smarter Siri and improved texting with Android. The new version is likely to incorporate generative AI technology for enhanced capabilities and functionality.
Full articleSummary: Dustin Moskovitz, Facebook cofounder, accuses Tesla of committing 'consumer fraud on a massive scale' akin to Enron scandal. Concerns raised over accounting practices and inflated numbers related to Full Self-Driving and Autopark features. Tesla faces controversies over FSD safety, lack of fully autonomous driving, and executive resignations with dismal financial metrics.
Full articleSummary: GE Aerospace received a price target upgrade to $180 from $165 by Bank of America analyst Ronald Epstein, reflecting the company's unique portfolio of assets and broad-based exposure in its first-quarter earnings report.
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