Summary: IBM plans to acquire multicloud software company HashiCorp for $6.4 billion to enhance its hybrid cloud offering, focusing on managing cloud at scale. IBM expects the transaction to close before the year-end, pending approvals. The acquisition is part of IBM's strategy to expand its hybrid cloud business by incorporating HashiCorp's infrastructure and security management solutions.
Full articleSummary: Intel beat Wall Street's earnings target for the first quarter but sales fell short. The chipmaking giant also issued a weak forecast for the current quarter, causing its stock to drop in extended trading. PC chip sales drove growth while sales of data-center chips and chips for network and edge devices saw mixed results.
Full articleSummary: Alphabet announced its first dividend and a $70 billion stock buyback, leading to a more than 13% surge in stock price. The company exceeded Wall Street estimates for first-quarter revenue, particularly due to rising demand for its cloud services and steady advertising spending.
Full articleSummary: Microsoft has posted strong third-quarter fiscal financial results with $61.9 billion in revenue and $21.9 billion in net income. Revenue is up 17% and net income up 20%. The boost is mainly driven by Office, Microsoft Cloud, and Xbox content and services, particularly from the recently acquired Activision Blizzard.
Full articleSummary: Gilead Sciences Inc. reported a net loss of $4.17 billion in Q1 compared to a profit of $1.01 billion in the same period last year. Revenue increased to $6.69 billion from $6.35 billion in the previous year's Q1. The company provided full-year EPS guidance of $3.45 - $3.85.
Full articleSummary: Coca-Cola FEMSA reported robust first-quarter results in 2024 with significant growth across key markets, driven by strong performances in Mexico, Brazil, Guatemala, Colombia, and Central America. Adjusted EBITDA increased by 13.5%, reflecting the company's successful cost control measures and efficiency improvements. The company's focus on digital initiatives, sustainability, and potential mergers and acquisitions signals a strategic move to consolidate its presence in the region and sustain long-term growth.
Full articleSummary: Cigna plans to offer biosimilar versions of AbbVie's Humira with $0 copay at its specialty pharmacy in the U.S., aiming to provide affordable options for eligible patients. The biosimilars will be priced about 85% lower than Humira's list price of $6,922.62 per month.
Full articleSummary: IBM shares fell more than 8% in premarket trading due to pressure on its consulting business from budget constraints. Although software business grew, significant deterioration in Consulting led to missed revenue estimates. Market valuation set to decrease by over $14 billion.
Full articleSummary: Alphabet (GOOG, GOOGL) experienced a 13% surge in after-hours trading post its impressive quarterly results surpassing revenue and earnings expectations, introducing a $0.20 per share cash dividend and approving a $70 billion stock repurchase program.
Full articleSummary: Gilead Sciences reported a 5% increase in total revenue for the first quarter of 2024 compared to the same period in 2023, driven by higher sales in HIV, Oncology, and Liver Disease. The acquisition of CymaBay Therapeutics was completed, resulting in an IPR&D charge of $3.9 billion and impacting diluted EPS.
Full articleSummary: Home Depot is having a massive Spring Black Friday sale with discounts on indoor and outdoor power tools, patio furniture, large kitchen appliances, and more. The sale ends on April 28, providing a great opportunity to stock up on home improvement essentials. Many items are seeing significant price cuts.
Full articleSummary: NVIDIA engineer Arthur Huillet has opened a merge request adding to the Mesa NVK Vulkan driver, implementing conservative rasterization support for all NVIDIA GPUs. This move aligns with increased NVIDIA involvement in open-source components like the kernel and Mesa.
Full articleSummary: Intel's stock fell nearly 9% as the chipmaker slipped back into unprofitability and forecast a flat, unprofitable quarter. Despite some business segments showing growth, Intel's turnaround is still seen as having a long way to go. The company's introduction of new chips and investments in advanced technology are expected to yield better results in the long term.
Full articleSummary: Gilead Sciences, Inc. (NASDAQ: GILD) reported a revenue increase in Q1 of 2024, surpassing expectations, driven by growth in key product segments. However, the company faced an EPS shortfall due to one-time charges related to acquisitions from CymaBay Therapeutics and Immunomedics.
Full articleSummary: Oracle announced the availability of NVIDIA AI Enterprise on Oracle Cloud Infrastructure Supercluster in the U.S. Government Cloud region to help address sovereign AI, providing government customers with access to high-performance accelerators and AI services.
Full articleSummary: KeyBanc upgrades Sherwin-Williams to overweight, Bernstein initiates General Motors as outperform, Evercore ISI reiterates Nvidia as outperform
Full articleSummary: Intel Corp. participates in a $1 million Dillon Wetland Restoration project in Ohio, investing in strategies to protect water resources with the goal of being net positive in water consumption. The project aims to improve water quality in the local area.
Full articleSummary: Pure Storage and Cisco have deepened their partnership, prompting a distribution change to align the two companies within distributor Westcon-Comstor NZ’s Comstor business, enabling growth for FlashStack, an integrated hybrid cloud infrastructure.
Full articleSummary: Alphabet Inc.'s stock soared 16% in after-hours trading following huge spikes in revenue and net income surpassing analysts' predictions, with the announcement of its first-ever cash dividend of 20 cents per share and authorization to repurchase up to $70 billion in shares. Revenue for the first quarter was $80.54 billion, a 15% increase from a year ago.
Full articleSummary: A Tesla driver was involved in a fatal crash while reportedly using the Autopilot feature and checking his phone, raising concerns about the effectiveness of safety measures in place. The driver was arrested for investigation of vehicular homicide.
Full articleSummary: Recent IMF/World Bank meetings focus on U.S. economic outperformance leading to dollar-bullish sentiment and potential rise in volatility in 2024.
Full articleSummary: Worldcoin plans collaborations with PayPal and OpenAI to solidify its presence in the market. Additionally, the Worldcoin Foundation announced the launch of World Chain, an open-source blockchain integrated with Okta's cybersecurity authentication service. Despite the bearish trend in WLD price, the project shows signs of medium bullish divergence and potential for an upside breakout.
Full articleSummary: Microsoft reported a 17 percent increase in revenue and a 20 percent rise in profit for the first quarter, driven by investments in artificial intelligence, particularly in Azure cloud computing services.
Full articleSummary: Gilead reported first quarter EPS significantly lower than analysts' estimates and below consensus revenue. Provided a lower-than-expected EPS guidance for FY 2024.
Full articleSummary: Bank of America Corporation declared regular quarterly cash dividends for common stock and preferred stock.
Full articleSummary: Boeing's monthly output of 737s and 787s is affected by issues with fuselages, heat exchangers, and supply chain problems. Production rates for both aircraft are below target with delays expected until improvements are made.
Full articleSummary: Apple is running a special Apple Pay promotion with Nike offering 10 percent Daily Cash back on Nike purchases from April 25 through May 2 for Apple Card users.
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