Summary: Oracle and NVIDIA announced the availability of NVIDIA AI Enterprise on Oracle Cloud Infrastructure Supercluster in the Oracle U.S. Government Cloud region to assist with sovereign AI. The partnership aims to provide U.S. government customers with access to Oracle's cloud infrastructure services along with NVIDIA's high-performance accelerators and AI software, tailored to meet security, sovereignty, and compliance requirements.
Full articleSummary: IBM is acquiring software company HashiCorp in a deal valued at $6.4 billion to boost its products and expand its cloud business, with a focus on hybrid cloud and AI. HashiCorp believes the deal will help it reach a much broader audience.
Full articleSummary: Stock indexes recovered from steep losses, tech giants' earnings reports disappointed investors, US economic growth slowed, Meta stock sank on Metaverse losses, IBM stock dropped over 8%, Southwest Airlines posted a loss and Boeing delays causing Southwest stock to decline, Microsoft-backed Rubrik soared 20% on IPO day, Chipotle restricts employees from eating chicken, Comcast stock fell despite earnings beat, Bitcoin fell below $64,000 amidst tech stock declines.
Full articleSummary: Alphabet reported strong revenue of $80.54 billion in Q1 2024, up 15% from the same quarter last year. The company's operating income was $25.5 billion, and net income was $23.66 billion for the quarter. Additionally, YouTube ad revenue and Cloud revenue showed significant growth compared to the previous year.
Full articleSummary: Intel reported first-quarter earnings that beat expectations for earnings per share but missed on sales. The company provided a weak forecast for the current quarter, leading to a stock drop of over 9% in extended trading.
Full articleSummary: Tesla China has launched a zero downpayment program for inventory Model 3 sedans and Model Y crossovers to boost domestic sales, offering low daily payment options for customers.
Full articleSummary: Alphabet (GOOGL) reported first-quarter earnings and revenue surpassing estimates, announced its first-ever dividend and a $70 billion stock buyback. Google stock soared more than 13% in extended trading. The company also revealed impressive results in cloud-computing and YouTube ad revenue.
Full articleSummary: Microsoft posted strong third-quarter results, surpassing Wall Street's expectations, with a 17% increase in revenue to $61.9 billion and a 20% increase in profits to $21.9 billion. The company's stock rose more than 5% in after-hours trading, solidifying its position as the world's most valuable company.
Full articleSummary: Google is transitioning to automatically creating publication pages in Google Publisher Center, leading to more confusion among publishers. The process that was once clear and straightforward is now automated and unclear.
Full articleSummary: Apple's AirTag trackers, which work seamlessly with iPhones and the Find My app, are currently available in a pack of four for just $80 at Amazon, nearly 20% off the usual $99 price.
Full articleSummary: Airbus SE plans to increase production of A350 widebody jet to 12 a month by 2028, surpassing its earlier target of 10 by 2026. However, its earnings before interest and tax of €577 million in the first quarter fell short of analysts' forecast of €814 million due to higher costs.
Full articleSummary: McDonald's (MCD) is expected to report quarterly earnings of $2.70 per share, with a year-over-year increase of 2.7%. Revenue is anticipated to be $6.17 billion, showing a 4.7% rise from the year-ago quarter. Analysts have adjusted the consensus EPS estimate downwards by 0.7% over the past 30 days.
Full articleSummary: Union Pacific introduced a Service Performance Index measuring its reliability, showing improvement in meeting customer commitments. The CEO also discussed the importance of service and price over carbon footprint for customers. He emphasized the need for consistent growth and diversification instead of relying on one major commodity.
Full articleSummary: Comcast executives anticipate a continued decline in customer bases for broadband, cable TV, and wireline voice services due to the termination of the Affordable Connectivity Program, but managed to sustain revenue growth through rate increases and introduced programs for low-income households.
Full articleSummary: Boeing is facing accusations of shutting down employees for trying to raise safety concerns, including negative performance evaluations against engineers monitoring safety practices for the FAA. Whistleblowers and industry experts have raised concerns over the company's safety culture, indicating potential structural weaknesses in aircraft models.
Full articleSummary: Gilead Sciences beat Wall Street's first-quarter sales forecast driven by its Covid treatment Veklury but saw two cancer drugs, Tecartus and Trodelvy, lagging behind expectations. Overall revenue climbed 5% to $6.69 billion, beating forecasts, while earnings per share were impacted by a tax hit due to the takeover of CymaBay.
Full articleSummary: U.S. stock futures retreat as investors await earnings reports from big-name tech companies and economic growth data. Meta Platforms shares fall over AI spending plans, while IBM's shares dip following mixed earnings and HashiCorp deal announcement. U.S. economic growth expected to have slowed in the first quarter but remain resilient.
Full articleSummary: Tech giants' increased capital spending, particularly by Meta Platforms, benefits semiconductor and infrastructure stocks Broadcom, Taiwan Semiconductor Manufacturing, and Arista Networks. Meta's increased spending on AI data centers is expected to boost revenue for Arista and Broadcom, both of which provide products crucial to Meta's operations. TSMC, which produces both Nvidia GPUs and Meta AI accelerators, may benefit despite potential future competition from Samsung's foundries.
Full articleSummary: Lawsuit accuses Lockheed Martin of negligently exposing workers to dangerous chemicals at its Florida facility, leading to death of former employee.
Full articleSummary: Bristol Myers Squibb CEO remains optimistic despite challenges from Inflation Reduction Act and declining sales of CAR-T therapy Abecma. The company had a good start in the first quarter with a 5% sales increase and $11.9 billion total revenue. BMS is focusing on its growth portfolio to compensate for potential impacts from IRA negotiations and has completed strategic acquisitions and deals to boost long-term growth prospects.
Full articleSummary: Gilead Sciences reported a 5% increase in total revenue for the first quarter of 2024, driven by higher sales in HIV, Oncology, and Liver Disease. Diluted EPS decreased to $(3.34) due to an acquired IPR&D charge of $3.9 billion related to the CymaBay acquisition. Product sales excluding Veklury increased 6% to $6.1 billion, with Biktarvy sales up 10% to $2.9 billion and Oncology sales up 18% to $789 million.
Full articleSummary: Alphabet A (NASDAQ: ) reported better-than-expected first quarter EPS of $1.89 and revenue of $80.54B, beating the analyst estimates.
Full articleSummary: Costco introduced gold bars in its shopping portfolio, leading to $100 million in sales in its fiscal first quarter and ongoing monthly sales of $100-$200 million. However, many new gold investors are struggling to make a solid return due to lack of knowledge and differences from stock trading.
Full articleSummary: Broadcom, the parent company of Brocade, finally patched several vulnerabilities in Brocade’s SANnav management application 11 months after acknowledging the bugs. The flaws could allow attackers to send malicious data and intercept credentials, potentially compromising the entire SANnav Fibre Channel infrastructure.
Full articleSummary: Gilead Sciences reported a first-quarter loss of $1.32 per share, but revenue rose 5% driven by higher sales in HIV, oncology, and liver disease treatments. The company's 2024 adjusted profit outlook was lowered to $3.45 to $3.85 per share.
Full articleSummary: Chevron's affiliate Tengizchevroil LLP has started operations at the Wellhead Pressure Management Project at the Tengiz oil field in Kazakhstan to boost oil production, part of the overall expansion project at Tengiz.
Full articleSummary: Vertex, Inc. has joined the Oracle ISV Accelerator for SaaS Initiative to integrate tax solutions into Oracle Fusion Applications, resulting in improved performance and faster setup for customers.
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