Summary: Barclays analyst Julian Mitchell reiterated a Buy rating on Honeywell International with a price target of $232.00. The company also received a Buy rating from Goldman Sachs but a Hold rating from Wells Fargo.
Full articleSummary: The Federal Reserve inflation gauge came in hotter than expected, causing markets to anticipate a delay in rate cuts. S&P 500 opened higher due to positive earnings reports from Google parent Alphabet and Microsoft. The 12-month core PCE inflation rate held steady at 2.8% in March.
Full articleSummary: Major indexes opened higher on Friday morning thanks to strong results from Alphabet and Microsoft despite slightly higher than expected inflation numbers.
Full articleSummary: Cisco has inaugurated the Edge Centre in Nairobi, Kenya, in collaboration with ICT Authority and University of Nairobi, to enhance cybersecurity skills and address the growing cyber threats in Kenya and beyond. The initiative aims to bridge the gap between academic training and industry demands, offering courses from Cisco Networking Academy and advanced technologies like AI and machine learning for real-time security risk detection and mitigation.
Full articleSummary: Alphabet announced its first-ever planned dividend payout, and authorized $70 billion in new share repurchases following strong quarterly results driven by momentum in search and AI. Shares rallied, pushing market value over $2 trillion.
Full articleSummary: Representatives of Azerbaijan's banking sector visited Bank of New York Mellon to learn about its operations and innovative technologies.
Full articleSummary: Tools for Humanity, the company behind Worldcoin, is exploring potential partnerships with PayPal and OpenAI. The company is expanding its product offerings and facing regulatory scrutiny with investigations and actions in multiple countries. Worldcoin intends to sell its native token to investors outside the US to increase the circulating supply.
Full articleSummary: COCA-COLA Amatil, in partnership with Qabac Distributors, opened a new depot in Bulolo. Customers gathered at the new Coca-Cola depot when it opened for business in the district of Bulolo on Wednesday. The depot will sell Coca-Cola products at wholesale prices to target informal sectors.
Full articleSummary: Donald E. Petersen, the former Ford Motor Co. CEO known for his successful leadership in the 1980s, passed away at the age of 97. His tenure saw Ford's market share rise significantly due to emphasis on teamwork and long-term strategic thinking. Petersen's inclusive, team-oriented management style transformed Ford into a sales powerhouse, winning recognition from industry analysts and shareholders.
Full articleSummary: The Zacks Research Daily presents the best research output of their analyst team which includes an update on Q1 earnings and new research reports on 16 major stocks, such as Oracle Corp., HSBC Holdings plc, and RTX Corp. Q1 earnings for S&P 500 members show a +1.1% increase in total earnings and +3.5% higher revenues, with 77.9% beating EPS estimates and 58.9% beating revenue estimates. Analyst reports featured in the blog provide insights into the performance and outlook of Oracle, HSBC, and RTX.
Full articleSummary: Texas Instruments (TXN) reported a total revenue of $3.66 billion for the quarter ending March 2024, with Japan and Europe, Middle East and Africa contributing significantly to the company's international revenue. Wall Street analysts expect the company's total revenue for the current fiscal quarter to be $3.8 billion, marking a decline of 16.2% from the previous year. For the entire year, the forecasted total revenue is $15.81 billion, showing a reduction of 9.8% from the previous year.
Full articleSummary: Amgen announced the imminent submission of a Marketing Authorization Application to the European Medicines Agency for teprotumumab for the treatment of Thyroid Eye Disease in adults.
Full articleSummary: JPMorgan Chase & Co. promotes two leaders in India to managing director positions
Full articleSummary: Amgen plans to seek approval in Europe for its Tepezza treatment for thyroid eye disease, as there are currently no approved treatments in the region. Tepezza was acquired from Horizon Therapeutics and has been the bestselling drug.
Full articleSummary: Chevron beat earnings expectations but saw a 16% decline in net income compared to the same quarter last year due to lower margins in refineries and international gas business. Despite production gains in the U.S., international oil and gas earnings fell by 6%.
Full articleSummary: Colgate-Palmolive Co reported strong Q1 2024 results with net sales reaching $5.065 billion, up 6.2% YoY, surpassing estimates, and EPS rising to $0.83, up 84% YoY, exceeding expectations. The company maintained leadership in global market shares for toothpaste and manual toothbrushes, with a gross profit margin of 60.0% and organic sales growth of 9.8%.
Full articleSummary: Chevron Corp beat first-quarter profit estimates despite weak natural gas prices and fuel margins. Higher U.S. production volumes and recent acquisitions contributed to the positive results. The company is facing challenges from weak energy prices and fuel margins, with shares falling 1.4% in pre-market trading.
Full articleSummary: Microsoft Corp. and Alphabet Inc. are set to unveil pivotal earnings reports surrounding artificial intelligence, under intense scrutiny following Meta Platforms Inc.'s disappointing forecast, triggering a stock selloff. Analysts emphasize the importance for both companies to exceed high expectations to maintain market momentum.
Full articleSummary: PepsiCo Inc has invested over USD 2 million to install solar panels at its sites in Romania, with plans to add more panels in the future.
Full articleSummary: Chevron beats estimates for first-quarter profit by 2%, attributed to higher production volumes in the U.S. and recent acquisitions. The company reported a profit of $5 billion, down from $6.57 billion a year ago. Chevron's results were helped by acquisitions and successful projects in key basins.
Full articleSummary: Charter Communications reported higher first-quarter profits despite continued cord-cutting and competition for broadband customers. The company experienced a loss of residential and business interest customers, but saw growth in residential broadband revenue and Spectrum Mobile customer base.
Full articleSummary: Amgen submitted Marketing Authorization Application for teprotumumab in Europe for Thyroid Eye Disease treatment.
Full articleSummary: Bristol Myers Squibb (BMY) receives a positive opinion from CHMP recommending the approval of Opdivo for the first-line treatment of urothelial carcinoma in the EU and FDA approves the same combination in the US after a Priority Review.
Full articleSummary: Bank of America declared regular quarterly cash dividends on its common stock and preferred stock.
Full articleSummary: Satya Nadella announced a new focus on prioritizing security above all else at Microsoft, following pressure from the Cyber Safety Review Board after a series of high-profile hacks. The company is doubling down on its Secure Future Initiative to enhance security measures across various domains.
Full articleSummary: Gilead Sciences released its first-quarter 2024 earnings showing a 5% year-on-year increase in total revenue driven by strong performance in its HIV, cancer, and liver disease businesses. The acquisition of CymaBay therapeutics impacted diluted earnings per share negatively in Q1, but is expected to be accretive from 2026 onwards. Gilead is anticipating FDA approval for seladelpar, which is expected to contribute significantly to sales from 2025 onwards.
Full articleSummary: Colgate-Palmolive (CL) shares are up 2% after reporting better-than-expected financial results and raising forward guidance. The company attributes the earnings beat to increased prices and continued consumer spending. Colgate-Palmolive now expects revenue growth of 2% to 5% for the year, up from a previous forecast of 1% to 4% growth.
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