Summary: Comcast's chairman and CEO, Brian Roberts, saw his compensation package rise to $35.47 million in 2023, with pay increasing by 11% from the previous year. Comcast's stock price rose by 26% in 2023, but shares are down 12% year to date in 2024. The company reported $121.6 billion in revenue for 2023, up 0.1% from the previous year.
Full articleSummary: Sherrie O'Brien files lawsuit against JPMorgan Chase Bank, N.A. for alleged violations of West Virginia consumer protection acts, including harassing collection calls despite legal representation.
Full articleSummary: Costco membership fees can easily be covered through savings on purchases offered through exclusive discounts and promotions. Members can save money on car insurance, mattresses, tires, and electronics, making the membership cost-effective in the long run.
Full articleSummary: Cisco warns of state-linked threat campaign targeting perimeter network devices with malicious backdoors. Cisco released patches for vulnerabilities and urges customers to update systems.
Full articleSummary: Apple deepens its involvement with China and expands its production in Southeast Asia and India, increasing its number of China-based suppliers and manufacturing sites. Despite growing presence in India and Southeast Asia, its ties with China continue to deepen, challenging prior reports of reduced dependence on China. Analyst anticipates slight revenue increase for March quarter but expects significant downward revision for June quarter guidance compared to consensus.
Full articleSummary: Costco membership can pay for itself in a single purchase through savings on car insurance, mattresses, tires, and electronics. Members save significantly through exclusive discounts and deals available at Costco.
Full articleSummary: Medtronic has received FDA approval for its closed-loop spinal cord stimulator, the Inceptiv implant, which adjusts therapy automatically based on the body's signals. It is the only FDA-approved device compatible with full-body MRI scans. This innovative technology aims to provide personalized and effective relief for patients dealing with chronic pain.
Full articleSummary: FDA approved Medtronic's Inceptiv closed-loop rechargeable spinal cord stimulator for chronic pain treatment with real-time adjustment feature. Company to launch in US shortly and approved for use in Europe and Japan.
Full articleSummary: Coca-Cola has invested $22 million in the beverage sector in Pakistan for technology upgrades, capacity enhancement, and creating employment opportunities. This investment is in addition to the $1 billion invested since 2008.
Full articleSummary: Decarbonization Partners, a partnership between BlackRock and Temasek, has exceeded its funding target by raising $1.40 billion for its inaugural late-stage venture capital and growth private equity investment fund. The fund has attracted over 30 institutional investors from 18 countries, reflecting a global interest in climate investing.
Full articleSummary: Exxon Mobil reported a 28% year-on-year drop in first-quarter profits due to weaker refining margins and lower natural gas prices, while Chevron's profits also declined despite higher production volumes in the U.S. Both companies faced challenges from weak energy prices and fuel margins. Exxon is in a dispute with Chevron and Hess over assets in Guyana.
Full articleSummary: ExxonMobil plans to add more natural gas, including LNG, into the portfolio in the United States and overseas based on advantageous investment opportunities.
Full articleSummary: Google is likely to unveil Pixel 8A with advanced features and multiple color options at the upcoming Google I/O conference. The event is expected to also shed light on Android 15 updates and AI enhancements.
Full articleSummary: Major tech companies such as Microsoft, Google, and Tesla saw strong earnings reports, with the stock market rebounding. Treasury yields rose on hot inflation data. Meta Platforms and ServiceNow disappointed with their revenue outlooks.
Full articleSummary: BNY Mellon disclosed its investment in Bitcoin ETFs, underscoring growing institutional interest in cryptocurrencies. SEC approved spot Bitcoin ETFs led to a surge in the crypto market, with BTC reaching a new all-time high. Hong Kong approved spot Bitcoin and Ethereum ETFs, signaling global acceptance of cryptocurrencies.
Full articleSummary: The stock market rebounded this week, led by the Nasdaq, with various big-cap earnings winners and losers. Google-parent Alphabet (GOOGL) and Tesla (TSLA) surged, while Meta Platforms (META) and ServiceNow (NOW) faced challenges in revenue and spending outlook. Microsoft (MSFT) beat views due to strong cloud growth and Nvidia (NVDA) saw a rebound alongside other AI chip stocks.
Full articleSummary: Medtronic plc has received FDA approval for the Inceptiv closed-loop rechargeable spinal cord stimulator for the treatment of chronic pain, which is the first device of its kind to offer a closed-loop feature that senses biological signals and adjusts stimulation in real time. The system also allows full-body MRI access and offers various waveform options.
Full articleSummary: BMO Capital Markets chief market strategist, Brian Belski, predicts that the S&P 500 will end 2024 at the current levels around their price target of 5,100
Full articleSummary: Starbucks and Workers United have made 'significant progress' in their contract talks after a two-day session in Atlanta, first meeting in nearly a year. Talks focused on resolving grievances, union representation, and other topics. They plan to meet again in late May to work on the framework for every single-store contract.
Full articleSummary: Analysts weigh in on Viking Therapeutics and Bristol-Myers Squibb in the Healthcare sector. Viking Therapeutics received a Buy rating with a price target of $120.00, while Bristol-Myers Squibb was assigned a Hold rating with a price target of $48.00.
Full articleSummary: Nike is set to release various basketball sneakers in May including the KD 17, KD 4 'Weatherman', and new Kobe colorways. Additionally, the highly sought-after Astrograbber and Cortez sneakers will make a return.
Full articleSummary: Analyst Chris Dendrinos reiterated a Buy rating on GE Vernova Inc. with a price target of $160.00, while Goldman Sachs also maintained a Buy rating on the stock with a $154.00 price target. The company's shares closed at $148.31.
Full articleSummary: Goldman Sachs analyst Joe Ritchie maintained a Buy rating on GE Vernova Inc. and set a price target of $154.00 due to strong financial performance, positive future outlook, and steady order trends of the company.
Full articleSummary: Caterpillar warns of sales fall-off for Q1 2024 due to slowing demand for machinery, but expects healthy demand in North America for the rest of the year. Sales declined in construction equipment business and natural resources industries.
Full articleSummary: Comcast's Peacock streaming platform saw a significant rise in subscribers after streaming the Kansas City Chiefs-Miami Dolphins NFL wildcard game, but has not disclosed specific subscriber figures. Despite losses, the platform remains committed to sports content and has secured exclusive rights to more NFL games.
Full articleSummary: Caterpillar warned of a sales drop in the current quarter due to tightening equipment inventories by dealers, leading to a 7% slump in its shares. Weak construction equipment sales in most regions offset by strong demand in North America. Dealer inventory concerns are growing in the industry.
Full articleSummary: Wells Fargo updated its outlook on General Motors, increasing the price target to $30.00 from $28.00 while keeping an Underweight rating on the stock. Revised EPS estimates and EBIT projections were provided by the firm, reflecting caution despite positive first-quarter performance.
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