Summary: March's PCE data was hotter than expected, signaling a possible economic slowdown, leading to a reevaluation of the Fed's rate cut outlook by economists and investors. Stifel Financial Chief Economist Lindsey Piegza highlighted the potential for delays in rate cuts and the consideration of rate hikes due to lack of significant inflation increase.
Full articleSummary: IBM shares are trading lower after announcing agreements with the Government of Canada and Quebec to further develop semiconductor capabilities at IBM Canada's plant in Bromont, Quebec, with a combined investment valued at approximately C$187 million.
Full articleSummary: Boeing's aircraft production is falling behind schedule, leading to delays in deliveries to airlines like United and Southwest. Southwest Airlines will reduce the number of new Boeing deliveries and retirement of old aircraft this year. Concerns are raised about safety of older planes but retired airline captain Richard Levy assures they undergo necessary maintenance and are safe to fly.
Full articleSummary: Charter Communications, Inc. reported financial results for the first quarter of 2024, with a total of 30.5 million residential and SMB Internet customers, 8.3 million mobile lines, and 32.0 million customer relationships. Despite a decrease in first quarter revenue growth by 0.2%, the company saw positive net income and Adjusted EBITDA growth year-over-year.
Full articleSummary: Analysts from Stifel Nicolaus and Wells Fargo maintained ratings on Starbucks (SBUX), while Starbucks also received a Hold rating from Robert W. Baird's David Tarantino. Starbucks reported an increase in quarterly revenue and net profit compared to the previous year.
Full articleSummary: ExxonMobil's profit declined in the first quarter as natural gas prices fell and refining margins dropped. The company's revenue also decreased, missing Wall Street expectations. On the other hand, Chevron reported a first-quarter profit that surpassed expectations.
Full articleSummary: HomeServices of America, owned by Berkshire Hathaway, settled a $250 million antitrust lawsuit, impacting how real estate agents are compensated. The settlement eliminates the risk of a larger payout and requires court approval. NAR also settled for $418 million and is set to adjust rules for agent payments, potentially reducing commissions by 25%.
Full articleSummary: Tesla, along with other EV manufacturers, is facing a sales slowdown as the demand for electric cars wanes, causing issues with maintaining momentum in the industry. Despite economic challenges and government regulations influencing the market, carmakers are releasing new electric models to meet emission targets set by the EU. However, manufacturers are expressing concerns over the pace of the switch to electric vehicles, with competition intensifying and prices being slashed to maintain sales.
Full articleSummary: Alphabet's parent company reached a stock market value of $2tn due to the announcement of its first dividend and strong quarterly results. Microsoft also reported strong figures and surpassed the $3tn mark.
Full articleSummary: ExxonMobil expects FTC to approve $60 billion acquisition of Pioneer Natural Resources Co. by mid-year despite increased scrutiny of corporate mergers.
Full articleSummary: PayPal is leaving the Libra Association, a group managing the Facebook-led digital currency Libra project, to focus on its core businesses. This move comes as other members like Visa and Mastercard are also reconsidering their involvement due to regulatory concerns.
Full articleSummary: Google has introduced a new AI Essentials course, accompanied by a $75 million AI Opportunity Fund aiming to provide AI training to 1 million Americans for free. The course teaches basic AI skills using generative AI tools and offers a certificate upon completion.
Full articleSummary: Capital One is in contact with the Justice Department over the bank’s proposed acquisition of Discover, with regulators extending the public comment periods on the deal to May 31. There are concerns about competition in the credit-card market and Capital One aims to enhance Discover's competitive viability through the acquisition.
Full articleSummary: Meta Platforms will continue to invest heavily in AI infrastructure, impacting Nvidia, Meta Platforms, and other semiconductor companies.
Full articleSummary: Intel's Foundry business unit reported a $2.5bn operating loss in Q1 of 2024, with overall net revenue loss of $400 million, but CEO is optimistic about future revenue from the AI accelerator Gaudi 3. The company's new product segment showed mixed results with the Client Computing Group performing the best, while the Network and Edge unit saw a decrease.
Full articleSummary: Oracle and Microsoft have collaborated to offer Oracle Database@Azure, allowing companies like Conduent and Voya Financial to migrate to the cloud and benefit from enhanced performance and real-time transaction processing. The service is expanding to multiple regions globally.
Full articleSummary: Mizuho Securities adjusted the financial outlook for Dow Inc., increasing its price target to $62 from $55, following strong financial performance and guidance. The firm maintained a neutral stance on the stock. Analysts highlighted Dow's operational strategy and positive industry peer multiples as reasons for the adjustment.
Full articleSummary: Charter Communications lost more broadband subscribers than expected in the first quarter of 2024 and saw slow mobile line subscriber growth due to the end of the Affordable Connectivity Program (ACP). Despite short-term impacts, Charter is optimistic about returning to broadband growth eventually.
Full articleSummary: Apple products including AirPods, MacBooks, iPads, Watches, and accessories are on sale at various retailers like Best Buy, Amazon, and Target. Deals include discounts on AirPods, iPads, MacBooks, Apple Watches, AirTags, chargers, and wireless charging stations.
Full articleSummary: Playtech PLC (LON:PTEC) has a potential upside of 64.0% according to Citigroup due to a target price of 720 GBX compared to the current share price of 439 GBX.
Full articleSummary: Medtronic is celebrating 75 years in business by reflecting on its mission to alleviate pain, restore health, and extend life. The company has pioneered breakthrough technologies and is constantly redefining treatments for over 70 conditions in the human body.
Full articleSummary: Comcast is urging Congress and the White House to extend the federal government's Affordable Connectivity Program (ACP) beyond April to keep Americans connected to vital resources such as education, healthcare, and workforce development. It is offering various initiatives to support customers during this transition, including ACP credits, Internet Essentials program, Xfinity Mobile savings, NOW WiFi Pass, Lift Zones, and Internet Essentials Partnership Program.
Full articleSummary: NorthWestRepair, a TechTuber specializing in graphics card repairs, highlights instances of irreparable damage to Nvidia GeForce RTX 4090s due to poor shipping and improper mounting practices. The cost of these flagship cards is around $2,000, and the damage caused is significant.
Full articleSummary: Charter Communications reported a significant loss of video subscribers in the first quarter, marking its worst video customer quarter ever. However, the company is making strategic moves such as content licensing renegotiations with Disney and introducing new products like Spectrum TV Stream to combat the downward trend in pay TV subscriptions.
Full articleSummary: BNY Mellon has officially entered Bitcoin investing via ETFs, revealing stakes in BTC ETFs managed by BlackRock and Grayscale. The SEC approval of 11 spot Bitcoin ETFs in January 2024 led to records highs for Bitcoin and signified increasing institutional interest in cryptocurrencies. Market analysts predict a bullish move for Bitcoin towards $85,195 by late May 2024, with potential for a spot Ethereum ETF approval in the U.S.
Full articleSummary: Stock of Nvidia GeForce RTX 4060 Ti GPUs has dried up, leading to speculation of a wind down in manufacturing ahead of the future RTX 5000 series launch. However, lead time from manufacturing to retail should allow for coverage if this is a temporary production disruption.
Full articleSummary: Decarbonization Partners, a JV between BlackRock and Temasek, closes US$1.40 billion for its inaugural fund, surpassing target of US$1 billion.
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