Summary: Hot inflation reading makes near-term rate cuts less likely as the Federal Reserve shifts to a higher-for-longer stance. Markets now predict a lower probability of rate cuts in July with expectations leaning towards September. Fed Chair Powell warns about elevated inflation measures and the need for further confidence before cutting rates.
Full articleSummary: Broadcom Inc. (AVGO) has been closely watched by Zacks.com visitors, factors affecting near-term performance are being reviewed. The stock has seen a -2.3% return over the past month while the Zacks Electronics - Semiconductors industry, it belongs to, lost 7.6%. The earnings estimate revisions show a mixed picture for the company.
Full articleSummary: Charter Communications misses profit estimates and faces larger-than-expected broadband subscriber losses in the first quarter due to increasing competition from rivals like Comcast and AT&T. The company also highlighted challenges related to the end of the Affordable Connectivity Program subsidy which could impact its customer growth in the coming quarters.
Full articleSummary: Project Gaia, led by the BIS Innovation Hub, has demonstrated the power of AI-enabled tools to extract data across different regions and reporting standards. The project used generative artificial intelligence (GenAI) to capture climate-related information from financial institutions worldwide.
Full articleSummary: Mexico's FEMSA reported an 11% increase in revenue in the first quarter, driven by growth in its business sectors including Oxxo and Coca-Cola. The company's share price rose over 3.5% following a positive call with executives discussing future plans for expansion in Mexico, Brazil, and potentially the U.S.
Full articleSummary: Restaurant and foodservice industry workers are experiencing high levels of burnout, with Chipotle Mexican Grill receiving a high burnout rating score of 97.72. Starbucks also ranked in the top 10 companies facing burnout issues.
Full articleSummary: Citigroup predicts 100 basis points cuts this year, much higher than market expectations.
Full articleSummary: Starbucks is expected to report Q2 2024 results with revenues and earnings likely beating expectations slightly, making the stock trade higher. The company forecasts full-year revenue growth of +7% to +10% and comparable sales growth of 4% to 6% globally and in the U.S. Full-year EPS estimate of $4.10 is in play, and the company continues to raise dividends since 2010. Starbucks' valuation is estimated to be $101 per share, almost 15% higher than the current market price.
Full articleSummary: Several U.S. Representatives, including Dan Newhouse and Kevin Hern, have reported trading activities involving RTX Corporation common stock in the last few months. Dan Newhouse purchased $1,001 - $15,000 of RTX stock on April 10, which has since seen a 0.35% increase. Overall, there have been 3 purchases and 3 sales of RTX stock by members of Congress in the past 6 months.
Full articleSummary: Exxon Mobil Corp. and Chevron Corp. declined despite strong production gains in Guyana and the Permian Basin. Exxon's adjusted per-share profit was lower than expected due to higher costs, while Chevron's capital spending was above estimates. Both faced challenges despite rising crude prices.
Full articleSummary: ExxonMobil and Chevron reported a decline in their first quarter earnings compared to the previous year due to lower margins on oil refining and plummeting natural gas prices. However, the oil and gas business remains highly profitable for both companies despite moderate oil prices. The recent rise in Brent crude oil prices to just under $90 a barrel may lead to potential earnings growth for the companies.
Full articleSummary: Latest security attacks targeting big-name appliances like Cisco, Mitel, Microsoft Defender, and Kaspersky, including vulnerabilities and exploits found in their systems. There's also a report of a false flag malware tricking anti-malware engines, a case of AI-enabled false flag slander, a zombie worm phenomenon, and a PSA warning for PHP programmers about an abandoned library.
Full articleSummary: Salesforce announced new user experience for sales leaders within Slack Sales Elevate, providing centralized Salesforce insights and automating opportunity tasks. Additionally, Einstein Copilot for Tableau is now generally available to the public, offering self-service analytics and data insights for users within the organization.
Full articleSummary: Ford is experiencing a surge in hybrid sales while slowing down its EV push, postponing investments and new models. The strategy of focusing on hybrids is paying off as demand for electric vehicles slows.
Full articleSummary: Mexico's FEMSA posted an 11% increase in revenue in the first quarter with strong performance across its business sectors, except for its pharmacy division. The company is optimistic about growth in its retail division, plans expansion in Mexico and Brazil, and aims to enter the U.S. market. Femsa's fintech arm Spin by Oxxo surpassed its client goal and is considering expansion and monetization of user data.
Full articleSummary: Charter Communications Inc. missed profit estimates, reported steeper customer losses than predicted, and warned of more user drop-offs due to the expected expiration of a federal broadband subsidy.
Full articleSummary: The article discusses the potential of CrowdStrike (CRWD) to join the $1 trillion market cap club due to the increasing importance of cybersecurity and the company's advanced AI-powered threat protection. CrowdStrike's robust growth and expanding suite of security services position it well for future success in the cybersecurity market.
Full articleSummary: Charter Communications posted larger-than-expected broadband subscriber losses and missed profit estimates in the first quarter, leading to a 1.4% drop in shares. The company faces tough competition from Comcast and AT&T, as well as challenges due to the end of the Affordable Connectivity Program subsidy.
Full articleSummary: Colgate-Palmolive Company (CL) reported strong first quarter 2024 results with a 6.2% increase in net sales and an 84% surge in GAAP EPS. The company's organic sales grew by 9.8%, while gross profit margin expanded by 310 basis points to 60.0%. Colgate updated its financial guidance for full year 2024, raising net sales growth and organic sales growth projections.
Full articleSummary: Former Ford CEO Donald Peterson passes away at 97.
Full articleSummary: Colgate-Palmolive Company reported strong financial results for the first quarter of 2024 with a 6.2% increase in net sales and an 84% increase in GAAP EPS. The company's organic sales grew by 9.8%, and gross profit margin also saw an increase of 310 basis points to 60.0%. Colgate updated its financial guidance for the full year 2024, raising its net sales growth and organic sales growth expectations.
Full articleSummary: Analysts provided neutral ratings for Gilead Sciences, Globus Medical, and Merck & Company. Gilead Sciences received a Moderate Buy consensus with a 25.5% upside, while Globus Medical had a Moderate Buy consensus with a $64.89 target. Merck & Company had a Strong Buy consensus with a $136.61 target.
Full articleSummary: US auto-safety regulator is investigating Tesla's Autopilot to ensure a fix deployed last year is sufficient, following concerns over crashes involving vehicles with the over-the-air software update. Tesla shares fell over 30% this year.
Full articleSummary: Fed's preferred inflation measure PCE index released. Big Tech Microsoft and Alphabet jump on strong earnings reports fueled by AI businesses. Market rebounds after rough day with weaker-than-expected GDP report and Meta's disappointing earnings.
Full articleSummary: Nike has re-released the iconic Nike Air Jordan 3 sneakers in unisex sizes for adults and kids at nike.com, made with premium and synthetic leather, foam midsole, and rubber outsoles, with classic colorways and design silhouette.
Full articleSummary: DISH Wireless and Crown Castle engaged in a commercial dispute over tower collocation cell sites, with the Denver jury's verdict favoring DISH, releasing them from paying disputed additional rent in the future. The conflict is unlikely to result in lease termination due to limited options in the market.
Full articleSummary: Both Alphabet (GOOG, GOOGL) and Microsoft (MSFT) reported quarterly results beating Wall Street estimates, highlighting the growing demand and investment in generative artificial intelligence. Analysts Ted Mortonson and Rishi Jaluria emphasize the real capital being put into AI infrastructure by these tech giants.
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