Summary: Bristol Myers Squibb shares dipped after reporting first-quarter revenue that exceeded expectations, swinging to a quarterly loss due to one-time charges related to recent deals and launching a program to cut costs by $1.5 billion by 2025.
Full articleSummary: Tesla reported a 55 percent decline in profit and 9 percent drop in revenue compared to the same period last year, leading to plans to develop more affordable EVs.
Full articleSummary: Q1 earnings season shows steady improvement with earnings growth pace modestly accelerating and revenue growth on a modestly decelerating trend. Upward revisions seen in various sectors, with Energy sector contributing significantly to positive estimate revisions. Tech sector has been enjoying a favorable trend for some time, and overall net margins expected to increase, driven mainly by the Tech sector.
Full articleSummary: Comcast reported a small profit increase despite decline in core cable operations, NBCUniversal struggled with lack of new spending from advertisers, overall revenue rose slightly, broadband customers decreased while wireless lines increased, Peacock saw subscriber growth and narrowed losses.
Full articleSummary: GlaxoSmithKline has sued Pfizer and BioNTech in Delaware federal court, accusing them of infringing GSK patents related to mRNA technology in their COVID-19 vaccines. GSK claims its patents cover technology developed more than a decade before the COVID-19 pandemic, and it is seeking monetary damages from Pfizer and BioNTech.
Full articleSummary: GE Vernova reported stable orders and confirmed targets in its first quarterly publication since the spin-off from GE Aerospace. Despite a reduction in losses and a 6% increase in sales, the company saw its share price drop by more than 4% on the New York Stock Exchange.
Full articleSummary: Microsoft has been facing a series of high-profile security incidents involving state-sponsored hackers, leading to concerns about trust in the company. The Cyber Safety Review Board criticized Microsoft's inadequate security culture, prompting the company to prioritize security over new features. Lawmakers and critics have raised concerns about the company's security practices, especially regarding its selling of security as a premium offering.
Full articleSummary: NVIDIA CEO Jensen Huang is scheduled to deliver a keynote on June 2nd, right before Computex, focusing on the impact of AI on the industry. It is not officially part of the Computex keynotes.
Full articleSummary: Cisco has discovered sophisticated backdoors on devices running the ASA and FTD operating systems, believed to be exploited by unknown attackers for espionage purposes.
Full articleSummary: Southwest Airlines will stop serving four airports due to Boeing's delayed jet deliveries, leading to financial losses in the first quarter. Meanwhile, American Airlines also reported a loss but remains on track to meet its full-year financial targets.
Full articleSummary: Meta's stock plunged by 15% as investors reacted negatively to the company's plans to aggressively invest in artificial intelligence, leading to a $183 billion drop in market value. The company's increased AI investments and weaker than expected guidance for the current quarter contributed to the selloff.
Full articleSummary: Cisco Systems, Microsoft, and IBM sign pledge with the Vatican to ensure ethical development of AI called the Rome call.
Full articleSummary: Increased demand for Salesforce Marketing Cloud solutions has led to expansion of partners specialized in this solution in Brazil. Brazilian enterprises are increasingly focusing on providing personalized customer experiences using advanced technologies like AI.
Full articleSummary: HBAR token saw a sharp correction after it was clarified that BlackRock was not directly involved in the tokenization of its fund on the Hedera network. The token crashed by almost 35% following the misunderstanding that BlackRock had tokenized its fund on Hedera.
Full articleSummary: Boeing released its first-quarter financial results, with revenue slightly higher than forecast but still down 8% from the previous year. The iconic company's current detachment from its manufacturing origins is under scrutiny, causing concerns about American manufacturing in general.
Full articleSummary: Exxon Mobil reports strong financials with potential stock price growth while Chevron faces caution from analysts but could see significant upside, oil prices are in an upward trend fueled by geopolitical tensions and production cuts which is expected to positively impact ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) stock valuations.
Full articleSummary: Alphabet (Google) is set to announce its quarterly results with high expectations after reaching a new record high stock price. Analysts have raised EPS forecasts, anticipating revenues to come in lower quarter-on-quarter but higher year-on-year. The company has exceeded EPS and sales expectations for the last 4 quarters, but valuation models suggest the current share price reflects fair value, leaving little room for error.
Full articleSummary: McDonald's of New York State has launched a multi-year partnership with the Buffalo Bills, offering game day app deals, exclusive menu items, and a promotion for a free Big Mac with a $2 purchase during the NFL draft period. The partnership includes supporting local Ronald McDonald House Charities Chapters across New York State.
Full articleSummary: BGC Group, Inc. announced several major banks and financial firms as minority equity owners of FMX with a post-money equity valuation of $667 million. FMX Futures is expected to launch in September 2024 and aims to create efficiencies for clients. Various industry leaders have expressed optimism about the potential impact of FMX on market liquidity and cost reduction for participants.
Full articleSummary: BGC Group, Inc. announced that several major financial firms have become minority equity owners of FMX, driving its post-money equity valuation to $667 million. FMX Futures is anticipated to launch in September 2024, with a focus on creating efficiencies for clients and enhancing competitiveness in the U.S. interest rate markets.
Full articleSummary: Nvidia acquired Israeli startup Run:ai in a $700 million deal, aiming to enhance their cloud AI platform. This could impact businesses using Nvidia DGX Cloud or Run:ai, potentially improving AI performance for end users. The acquisition reflects Nvidia's focus on AI expansion and its positioning in the tech market.
Full articleSummary: Recent review by Fool.com contributor on the latest developments at Salesforce noting exclusion from a list of top 10 stock picks with potential for high returns.
Full articleSummary: US stock market experienced a significant decline in major indices due to slower GDP growth and higher inflation, leading to expectations of a delayed interest rate cut by the Federal Reserve. Tech stocks like Meta Platforms (FB) faced substantial losses despite beating profit estimates.
Full articleSummary: Anticipation is building in the tech community for Apple's rumored iPhone 16, expected to feature new AI-powered features, slimmer bezels, larger screens, and improved camera zoom lenses. The use of generative AI, anti-reflective technology, and a more power-efficient display are also rumored for the new handset.
Full articleSummary: Citigroup CEO Jane Fraser warns of arbitrage between banking and insurance as insurers invest in private debt. Concerns raised about increasing use of insurance vehicles for investing in private debt, potentially leading to lower quality products and regulatory challenges. Basel Committee on Banking Supervision discussed potential risks and need for oversight in private credit industry.
Full articleSummary: Google has not disclosed its total revenue from Australia for the first time in seven years. Instead, it reported a portion of its revenue, including a rise in revenue and profit for its Australian entity in 2023. The company's global market capitalization is stated to be $3 trillion.
Full articleSummary: Pfizer investors dismissed a proposal to disclose how political donations align with company's values at annual meeting.
Full article