Summary: Fiserv had its target price increased by Citigroup to $180.00 with a buy rating, while several other firms also raised their price targets and ratings for the stock. Fiserv's quarterly earnings report exceeded analysts' expectations.
Full articleSummary: GE Additive rebrands as Colibrium Additive, as part of GE becoming three standalone companies. The new name reflects the company's collaborative approach with customers and its focus on reliable manufacturing outcomes.
Full articleSummary: US stocks closed lower on Thursday as GDP report showed economic growth slowed to 1.6% in the first quarter, leading to concerns of stagflation and potential impact on interest rate cuts by the Fed. Tech stocks also tumbled due to worries of slowing economy affecting growth prospects.
Full articleSummary: Broadcom Inc (AVGO, Financial) has shown notable market activity with a daily gain of 3.47% and a 3-month gain of 5.49%. An analysis of Broadcom's valuation raises concerns about its significant overvaluation based on its GF Value and market cap. Despite its strong financial condition, Broadcom stock seems significantly overvalued, prompting investors to delve deeper into its true intrinsic value.
Full articleSummary: Union Pacific reported increased first-quarter profits despite flat revenue and lower freight volume. The railroad upgraded its profitability outlook for the year, with service improvements, better network efficiency, and solid pricing driving the positive outlook.
Full articleSummary: Nvidia stock saw a massive surge in 2023 due to its dominance in the AI chip market, with the share price rising nearly 239%. A £5,000 investment at the start of 2024 would have been worth around £8,050. The company's unprecedented growth is expected to quadruple its revenue in three years, with cloud computing giants driving demand for Nvidia's data center GPUs.
Full articleSummary: Bristol Myers Squibb posted better-than-expected first-quarter revenues of $11.9 billion, driven by strong performance from Eliquis, Reblozyl, and Opdualag but reported an adjusted EPS loss. The company is undertaking a productivity initiative to achieve cost savings of $1.5 billion by 2025 and plans to cut 2,200 jobs. Despite the positive sales from Reblozyl, concerns linger about the overall new product portfolio falling short of expectations.
Full articleSummary: A state-sponsored threat actor exploited two Cisco zero-day vulnerabilities in firewall devices to target government networks globally with custom backdoors. The campaign, dubbed 'ArcaneDoor,' conducted by an unknown actor UAT4356, used sophisticated attack chain involving known vulnerabilities to implant malware and execute commands. Organizations need to ensure proper patching, logging, and strong authentication for perimeter devices.
Full articleSummary: Philip Morris International posted strong Q1 2024 results, beating Zacks Consensus Estimate with increases in both top and bottom lines. The company benefited from strong pricing, favorable product mix, and volume growth driven by HTU and ZYN volumes.
Full articleSummary: Copado introduced Test Copilot, an AI tool based on ChatGPT by OpenAI, to automate testing of applications built for Salesforce SaaS environments. Test Copilot can simplify creating, modifying, and translating test scripts, as well as generate test cases for APIs to supplement UI and end-to-end testing.
Full articleSummary: Ennis, Inc. (NYSE:EBF) did not report significant quarterly net sales growth, but appears undervalued based on its low TTM EBITDA multiple, healthy balance sheet with no debt, and promising acquisitions. The company's recent integration of ERP systems and cash from equipment sales could drive future growth. EBF also has strong dividend yields and a solid market position in the US for its customized products. Overall, Ennis looks attractive for investors.
Full articleSummary: CVS Health has invested $19.2 million to build 85 new affordable housing units in Arvada, Colorado, in collaboration with Family Tree and BlueLine Development, aiming to provide permanent supportive housing for families and individuals experiencing homelessness. The housing project, called Marshall Street Landing, offers fully furnished units with various amenities and access to mental health and supportive services.
Full articleSummary: MSI has released a BIOS guide to help PC owners improve gaming stability with Intel 14th & 13th gen CPUs. The guide includes steps to address stability issues and optimize the gaming experience for Intel Core i9-13900K and Core i9-14900K processors.
Full articleSummary: Treasuries slump as traders reduce expectations for Fed rate cuts due to US GDP report showing sticky inflation pressures. Bond yields surge with traders now fully pricing in a December rate cut. Higher inflation and strong job market overshadow weaker consumption, leading to stagflation concerns.
Full articleSummary: Oracle Corp. is moving its corporate headquarters to Nashville, Tenn., citing the city's growing status as a tech and healthcare hub. This relocation underlines Nashville's appeal to tech businesses and its position as a vibrant center for healthcare companies and startups. Some residents, however, express concerns about the rapid development and fear the city may lose its identity and charm.
Full articleSummary: Intel is due to report earnings, investors are concerned about weaknesses in foundry, data-center, and AI business, but potential catalyst could be stronger recovery in traditional non-AI servers. Analysts expect adjusted EPS of 14 cents, revenue climbing to $12.8 billion, with varying growth and decline in different segments.
Full articleSummary: Cisco Systems reveals that some of its digital security devices were compromised by hackers targeting government networks globally. The company has patched the vulnerabilities and urged customers to update their software.
Full articleSummary: PepsiCo's short interest as a percentage of float has decreased by 4.76% since the last report, with 16.52 million shares sold short, representing 1.2% of all regular shares. Traders would take 2.95 days to cover their short positions on average. PepsiCo has less short interest compared to its peers.
Full articleSummary: Comcast's stock dropped despite beating earnings and revenue expectations by increasing earnings per share and free cash flow significantly. The stock fell due to concerns over slow revenue growth and increased debt.
Full articleSummary: Worldcoin's developer is seeking partnerships with tech and finance heavyweights like PayPal and OpenAI. The project plans to release Ethereum Layer 2 in 2024 to augment user onboarding. However, some countries have blocked Worldcoin's iris-scanning technology.
Full articleSummary: Nvidia stock has experienced incredible growth fueled by dominance in the AI chip market, with a significant increase in share price and revenue projections. However, concerns have been raised about the sustainability of this growth compared to tech giants like Apple and Microsoft.
Full articleSummary: Top food and drinks companies like Nestlé, PepsiCo, Danone, and Coca-Cola are major contributors to global plastic pollution, with Coca-Cola's products making up the largest percentage of plastic waste found in various environments. The study identified 28,570 brand names on plastic waste in 84 countries, with over 50% attributed to just under 60 multinationals.
Full articleSummary: Jamie Dimon, Chairman and CEO of JPMorgan Chase, praised Indian PM Narendra Modi's policies for lifting 400 million people out of poverty. He commended Modi's initiatives including Aadhaar system and banking access for 700 million people. India's economy is rapidly growing and is expected to become the third largest by the end of the decade.
Full articleSummary: Southwest Airlines is suspending service at some airports, cutting the number of flights, and making other significant changes due to Boeing aircraft delivery delays, resulting in slower growth and financial challenges.
Full articleSummary: Bank of America operates the Bank of America Preferred Rewards program, offering members perks like credit card rewards bonuses, savings interest rate boosters, and various discounts on mortgage and loan rates based on their tier levels.
Full articleSummary: Ryanair's CEO Michael O'Leary suggests that Boeing should focus on timely and budgeted aircraft production by relying on accountants rather than engineers, highlighting the importance of operational efficiency and practicality.
Full articleSummary: Microsoft is expected to discuss key topics such as artificial intelligence, Azure cloud growth, and market position in security during its upcoming earnings call for the third fiscal quarter. Analysts anticipate insights into the health of the AI field and corporate IT spending.
Full article