Summary: BlackRock and Grayscale's applications for Ethereum ETFs face SEC delays, with the decision now pushed back to June 23. Despite qualms from the SEC, investors remain optimistic about the potential of an Ethereum ETF eventually being approved. The recent success of BlackRock's Ishares Bitcoin Trust (IBIT) has set positive expectations for the future of crypto ETFs.
Full articleSummary: Wells Fargo initiated coverage of Americold Realty Trust with an Equal-Weight recommendation, projecting a 38.76% upside from the latest reported closing price. The company's projected annual revenue is expected to increase by 22.58%, but it has not increased its dividend in the last three years. Average portfolio weight of all funds dedicated to COLD is 0.46%, with 719 funds reporting positions. Cohen & Steers, Norges Bank, APG Asset Management US, and Vanguard Real Estate Index Fund and Total Stock Market Index Fund Investor Shares hold significant ownership percentages of the company, with Cohen & Steers decreasing its allocation by 26.48% over the last quarter.
Full articleSummary: Microsoft Corp. and Google owner Alphabet Inc. exceeded Wall Street estimates in latest quarterly results due to surge in cloud revenue fueled by booming use of AI services. Google posted a first-quarter profit of $900 million in cloud operations, well ahead of projections. Microsoft's Azure cloud computing platform sales rose by 31%, with AI attributing to 7% of the increase.
Full articleSummary: Meta's plan to invest more heavily in artificial intelligence infrastructure caused Meta (META) stock to sink Thursday, but the tech giant's capex news lifted AI stocks, particularly shares of tech hardware companies, including Nvidia (NVDA), Arista Networks (ANET), Dell Technologies (DELL) and Super Micro Computer (SMCI). Nvidia led the top AI plays with a 3.7% rise. Arista Networks, Dell, and Super Micro Computer also saw gains on Thursday.
Full articleSummary: GE HealthCare reported analyst estimates for Q1 2024, Q4 2023, and Q1 2023 revenue, diluted EPS, and net income. The completion of GE's three-way split into separate companies could draw more attention to how GE HealthCare has fared since being spun off from GE.
Full articleSummary: A Tesla on autopilot system fatally hit a motorcyclist in Washington state, leading to the driver's arrest on suspicion of vehicular homicide. Concerns have been raised about Tesla's autopilot safety features following previous recalls and incidents. Tesla CEO Elon Musk remains confident in the future of autopilot technology with the company.
Full articleSummary: G42, a technology conglomerate in Abu Dhabi, has gained significant partnerships with major US tech and AI companies, such as Microsoft, Amazon.com, and OpenAI.
Full articleSummary: MetLife Life has introduced an AI OCR system for rapid insurance claim processing, aiming to cover up to 30% of claims with automated payments.
Full articleSummary: Costco is facing complaints from customers regarding the packaging and quality of its chicken thigh and breast products, with issues such as leaking packaging and woody texture being reported on platforms like Reddit.
Full articleSummary: Intel's CEO discussed the company's progress in Q1 and highlighted solid results. The focus is on reducing costs and managing expenses. Q1 results were in line, gross margin and EPS exceeded guidance. He discussed the earnings call contents, outlook for revenue and EPS growth in 2024, and detailed information on various products and their impact on the company's performance.
Full articleSummary: McDonald's Korea will raise the prices of 16 menu items by an average of 2.8 percent due to higher logistics and labor costs, but the prices of the Big Mac and several others will remain unchanged. The company earned a record profit in 2023 and operating losses narrowed.
Full articleSummary: Intel posted a net loss of $400 million despite revenues of $12.7 billion, beating expectations. The company warned of a weak current quarter, causing its share price to tumble. Despite the challenges, Intel showed growth in various business units.
Full articleSummary: The National Labor Relations Board upheld a judge's findings that Starbucks managers in Michigan committed labor violations.
Full articleSummary: Biggest tech companies are planning to spend tens of billions on artificial intelligence, pushing up demand for computer chips and electricity, and potentially solidifying their position in the tech industry. Investments in AI tools and software are significantly increasing, with a focus on data centers and training AI algorithms.
Full articleSummary: Capital One had a strong Q1 2024 earnings call, reporting $1.3 billion earnings or $3.13 per diluted common share. The company saw growth in loans and deposits but dealt with a decrease in noninterest income. Despite challenges in the auto lending market, Capital One remains optimistic about growth opportunities. The company also introduced the Venture X business card, aligning with its strategy to win at the top of the market.
Full articleSummary: Alphabet Inc (NASDAQ:GOOGL) reported strong financial results for Q1 2024 with revenue, net income, and earnings per share exceeding analyst expectations. The company also initiated a dividend program and authorized a substantial stock repurchase program.
Full articleSummary: Investors are increasingly concerned about the possibility of stagflation in the U.S. as a result of elevated inflation coupled with slower economic growth, putting pressure on the Federal Reserve to potentially consider rate hikes. This unexpected data has challenged the belief that inflation would fade, sparking debate on whether stagflation may be on the horizon.
Full articleSummary: Tesla successfully applied to disannex its factory campus in Travis County, freeing itself from Austin's environmental regulations. This comes after the passing of Senate Bill 2038, allowing municipalities to release land if certain requirements are met.
Full articleSummary: IBM is recognized as the leading developer of technology for quantum-safe networking in a recent survey conducted by TelecomTV. Other companies like Nokia, BT, SK Telecom, and Vodafone are also making progress in this area. The telecom sector is still in the early stages of implementing quantum-safe networking strategies.
Full articleSummary: Salesforce's President and COO sold over $1.1 million worth of shares in the company, following a Rule 10b5-1 trading plan for insider transactions. Investors often scrutinize insider sales for insights into current valuation and future prospects.
Full articleSummary: Meta's plan to invest heavily in AI infrastructure caused META stock to sink but lifted AI stocks such as NVDA, ANET, DELL, and SMCI. Analysts view Meta's capex increase as a sign of strong demand for AI servers and Nvidia GPUs.
Full articleSummary: Intel forecast lower-than-expected revenue and profit for the second quarter due to weak demand for its traditional data center and personal computer chips. The company is facing competition in the AI market dominated by Nvidia's GPUs.
Full articleSummary: Capital One reported revenue of $9.4 billion for the quarter ended March 2024, up 5.6% year-over-year, with an EPS of $3.21. The company's performance on key metrics includes meeting or slightly missing analyst estimates, with positive changes in total net revenue for Credit Card and Commercial Banking segments, but a decrease in Consumer Banking.
Full articleSummary: Lockheed Martin Corp. has been awarded an $8,913,054 modification to a contract for F-35 aircraft sustainment efforts, including depot test systems upgrades. The work is expected to be completed by February 2027.
Full articleSummary: Lockheed Martin Corp and RTX Corp are set to benefit from $95 billion of new weapons funding due to conflicts in Ukraine and Israel, leading to increased demand for pricey equipment such as Patriot air defense interceptors and artillery rounds.
Full articleSummary: Apple introduced a set of tiny source-available AI language models called OpenELM that can run directly on a smartphone, models include 8 distinct models and have parameters ranging from 270 million to 3 billion, Apple aims for transparency and reproducibility by releasing source code and training materials.
Full articleSummary: Intel reported a lackluster forecast for the current period, signaling ongoing struggles to compete in the chip industry. The company's stock tumbled in late trading after the disappointing outlook.
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