Summary: Chevron CEO Mike Wirth discusses the company's highest first quarter production in its history during an interview on 'Squawk on the Street'.
Full articleSummary: Vodafone Idea (Vi) raises ₹18,000 crores by selling shares, which will help it repay vendors and upgrade its infrastructure. Indus Towers, a tower company with Airtel and Vodafone as major shareholders, stands to benefit from Vi's survival, potential expansion due to increased demand for towers by telcos like Airtel in rural areas and for 5G rollout. Most brokerages expect Indus Towers' share price to rise, although increased competitive intensity from companies like Summit Digitel poses a challenge.
Full articleSummary: Johnson & Johnson's subsidiary, Janssen-Cilag International NV, received a favorable CHMP recommendation for the approval of Rybrevant for the first-line treatment of adult patients with advanced non-small cell lung cancer.
Full articleSummary: Bristol Myers Squibb received positive recommendations for Opdivo in combination with cisplatin and gemcitabine for urothelial carcinoma treatment from CHMP and FDA.
Full articleSummary: Wells Fargo Advantage Funds - Allspring Income Opportunities Fund shares passed above its 50-day moving average and announced an increased monthly dividend, resulting in a dividend yield of 9.72%. Several institutional investors have recently modified their holdings of EAD.
Full articleSummary: Tampa Bay Rays anticipate Josh Lowe's return to boost their offensive performance after struggling with key hitters. Lowe had a strong 2023 season and is expected to rejoin the team by the end of April.
Full articleSummary: Bristol Myers Squibb has agreed to a new CAR-T cell therapy supply agreement worth up to $380 million with Cellares for manufacturing products.
Full articleSummary: JPMorgan Chase CEO Jamie Dimon warns about the US-China relations emphasizing the need to negotiate around national security and restructuring trade, also expressing concerns about China's support for Russia impacting the geopolitics. Dimon states that a great relationship between the US and China is difficult given the current circumstances.
Full articleSummary: Key inflation measure rose sharply in March, dampening hopes of Fed cutting interest rates. Consumer prices increased 2.7% from a year earlier, core PCE inflation rate at 2.8%. Despite high inflation, investors responded calmly, Dow Jones rose 86 points, S&P 500 was up 0.8%. Fed may delay rate cuts till September; some economists believe inflation can resume its prior downshift.
Full articleSummary: BofA Securities updated the outlook on Danaher Corporation, increasing the price target to $270 from $258 while maintaining a Neutral rating, reflecting positive observations in the bioprocessing market.
Full articleSummary: Charter reported a 65% increase in Spectrum video subscriber loss to 392,000 in Q1, with a decline in video revenue and broadband subscriber numbers. CEO remains positive on future despite downward trends in key business segments.
Full articleSummary: Intel shares fell more than 12% due to a downbeat forecast indicating a shift in enterprise spending towards AI chips, trailing behind competitors like Nvidia. Intel is planning a spending spree to build new factories and unveiled a new AI chip to stay competitive.
Full articleSummary: Medtronic plc announced that FDA has approved the Inceptiv closed-loop rechargeable spinal cord stimulator for treating chronic pain.
Full articleSummary: Colgate-Palmolive Company reported a 6.2% increase in net sales in Q1 2024, with organic sales rising by 9.8%. The company's global market share in toothpaste reached 41.3% year-to-date. Colgate's leadership highlighted double-digit growth in operating profit, net income, and earnings per share for the third consecutive quarter.
Full articleSummary: ExxonMobil reported a 28% decrease in profit and missed Wall Street estimates. However, oil production increased in the first quarter of 2024 due to strong results from Guyana.
Full articleSummary: Boeing's Starliner spacecraft is set to make its inaugural crewed launch with NASA astronauts Suni Williams and Butch Wilmore, after years of delays and setbacks. This marks a significant milestone for the beleaguered Starliner program as it aims to join SpaceX's Crew Dragon in carrying astronauts to the International Space Station.
Full articleSummary: Apple and Nvidia are recognized for their presence in the creative and gaming AI PC sectors, while the enterprise market leadership remains uncertain as per Omdia research. AI PCs are expanding with various tech firms including AMD, Intel, Qualcomm also focusing on solutions. Focus is on tailored solutions meeting user needs, especially for business users like the 'Corporate Warrior'. PC developers could attract new customers by targeting small language models.
Full articleSummary: NVIDIA developer Arthur Huillet contributed to NVK by implementing support for VK_EXT_conservative_rasterization extension, a step towards Direct3D Feature Level 12.1 in VKD3D-Proton.
Full articleSummary: Allies of Donald Trump are devising ways to potentially diminish the Federal Reserve's independence if he is re-elected president, including the possibility of ousting the current Fed chair, Jay Powell, before his term ends in 2025.
Full articleSummary: Big energy companies like Chevron and Shell are refocusing on clean energy technologies in light of lower-carbon initiatives, but are facing challenges in capital allocation and returns thresholds. The industry emphasizes the need for a balanced approach and collaborative efforts for successful transition to lower carbon energies.
Full articleSummary: Big energy companies are facing competition for capital as they navigate the transition to lower-carbon technologies, balancing the need for profitable projects with environmental considerations. Traditional oil and gas companies like Chevron and Shell are investing in clean energy technologies, but they must ensure new ventures meet minimum returns thresholds. Collaboration between public and private sectors is crucial for developing successful projects in the space.
Full articleSummary: Exxon Mobil Corporation reported first-quarter 2024 earnings per share that missed estimates, with declining revenues due to lower realizations of natural gas prices and decreased total production. The weak results were evident in the upstream, energy products, and financial performance of the company.
Full articleSummary: Intel shares are down in morning trading despite better-than-expected quarterly profit due to a lower-than-expected forecast for second-quarter revenue.
Full articleSummary: Chevron Corp. exceeded expectations for a second consecutive quarter due to strong oil-production growth from recent acquisitions in the backdrop of high crude oil prices.
Full articleSummary: Ford is recalling over 456,000 Bronco Sport SUVs and Maverick pickup trucks due to a battery malfunction that could lead to power loss while driving. Ford will recalibrate the control modules for battery charge detection, and owners will be notified by May 13 for free repairs.
Full articleSummary: The FDA approved Pfizer's gene therapy for hemophilia B, Beqvez, with a price tag of $3.5 million. It is Pfizer's first gene therapy to receive U.S. clearance, marking a significant milestone for the company. The treatment is designed to enable patients to produce factor IX themselves and prevent bleeding.
Full articleSummary: Bitcoin has soared to a new all-time high after U.S. SEC approval of 11 spot Bitcoin ETFs. BNY Mellon disclosed holdings in BlackRock's and Grayscale's spot Bitcoin ETFs.
Full article