Summary: Thermo Fisher Scientific Inc. (NYSE: TMO) lifts its annual forecast for 2024 on improved demand despite a Q1 revenue dip. The company posted a first-quarter revenue of $10.34 billion, beat consensus, and reported adjusted EPS growth. Thermo Fisher raised its 2024 sales guidance and adjusted EPS guidance.
Full articleSummary: ExxonMobil Marketing in Thailand projects a 10% increase in sales for its Mobil 1 lubricants and aims to expand the Mobil Super customer base. The company is optimistic about growth opportunities in the Thai market despite the government's focus on zero-emission vehicles.
Full articleSummary: Kraft Heinz is committed to reducing the impact of packaging on the environment through investments in technology and partnerships for a more circular economy.
Full articleSummary: Delay in granting consent to the sale of $1.3 billion ExxonMobil’s 40 percent stake in Mobil Producing Nigeria Unlimited's assets to Seplat Energy Plc due to NUPRC insisting on following the process stipulated in the JOA. NUPRC has already put in place a template for guiding divestment in Nigeria's oil and gas industry.
Full articleSummary: Pfizer and BioNTech are in a legal battle with Moderna over patents related to mRNA technology used in Covid-19 vaccines. Moderna alleges infringement of its patents by Pfizer-BioNTech's Comirnaty vaccine, while Pfizer-BioNTech are seeking to invalidate Moderna's patents.
Full articleSummary: Texas Instruments Inc. has reported steady revenue growth reaching $19,502 million, with a focus on competitive advantages, capital allocation, and efficiencies for long-term success. Key metrics such as revenue growth and free cash flow per share remain stable. Risks include economic conditions, competition, and cybersecurity threats. TXN aims to align strategic initiatives with market trends, focusing on industrial and automotive semiconductor demand.
Full articleSummary: Meta Platforms Inc (META) shares fell in after-hours trading despite beating analyst estimates, as the company provided weak guidance and raised expenses outlook. Alphabet Inc (GOOG, GOOGL), Snap Inc (SNAP), and Pinterest Inc (PINS) shares are moving lower in sympathy with Meta.
Full articleSummary: Zacks Research decreased Q3 2024 earnings per share estimates for Bristol-Myers Squibb. Several analysts downgraded the stock rating from buy to hold or neutral. The company recently announced a quarterly dividend.
Full articleSummary: Citigroup Inc is increasing compensation for junior bankers by as much as 15% amidst a talent war on Wall Street, despite downsizing by some firms. Other major U.S. banks tough quarter saw profits plunge and bigger provisions for loan losses.
Full articleSummary: BlackRock's Bitcoin ETF IBIT ended its streak of 71 consecutive inflows, with total outflows reaching $120 million. Grayscale's GBTC also saw massive outflows of over $130 million. Fidelity's FBTC and Ark's ARKB had modest inflows, but were unable to offset Grayscale's losses. The market sentiment appears to be bearish with Bitcoin price down over 3% in the past 24 hours.
Full articleSummary: BlackRock has confirmed no commercial relationship with Hedera or involvement in tokenization of funds on Hedera. HBAR token rallied over 100% following misinterpretation of a post. Despite the rally, HBAR has fallen 32.8% in the past 24 hours.
Full articleSummary: Meta's stock tumbled about 16% after trading hours despite posting better-than-expected Q1 results and announcing increasing investments in AI.
Full articleSummary: Cisco Systems disclosed a breach by sophisticated state-sponsored hackers who exploited vulnerabilities in its Adaptive Security Appliances, prompting the company to urge customers to update their software. The breach, which has raised concerns within the cybersecurity community, highlights the growing threat of cyber espionage targeting critical infrastructure.
Full articleSummary: Shares of Colgate-Palmolive (India) Ltd. gained 0.55% to Rs 2762.95 in Thursday's trade, with technical indicators showing a bullish bias including trading above 50-DMA, 200-DMA, and MACD signal line.
Full articleSummary: Meta Platforms provided weak revenue guidance and plans to increase spending, focusing on artificial intelligence in an earnings call, talking about AI investments, MetaAI, and an 'open' AI ecosystem. Meta sees compelling investment opportunities to improve core business in the near term and genAI and VR lab in the longer term. Half of content on Instagram is AI-recommended. Initial feedback on MetaAI is very positive a week after launch. Meta supports an 'open' ecosystem for AI and VR systems.
Full articleSummary: COCA-COLA EUROPACIFIC PARTNERS had a positive first quarter revenue performance in Q1 2024, showing growth in various markets and categories. They confidently reaffirmed their full-year guidance for 2024.
Full articleSummary: Texas Instruments Inc stock rose 6.55% after posting a strong second-quarter revenue forecast, underscoring the strength of their business model, product portfolio, and benefit of 300mm production.
Full articleSummary: IBM is acquiring HashiCorp for $6.4 billion in cash, aiming to enhance its services in hybrid cloud and AI. The deal is expected to close by the end of 2024, and HashiCorp will operate as a division within IBM. This acquisition will strengthen IBM's position in cloud native computing.
Full articleSummary: Amgen is set to release its quarterly earnings data on May 2nd. Analysts expect earnings of $3.82 per share for the quarter. Amgen has also provided guidance for EPS in FY24 and FY2024. The company recently declared a quarterly dividend of $2.25.
Full articleSummary: The stock market closed with the Dow Jones Industrial Average relatively unchanged, S&P 500 slightly up, and Nasdaq composite higher. Earnings releases impacted individual stock movements, with Tesla, Texas Instruments, and Costar Group among the gainers, while Old Dominion Air Freight, Boeing, and Metal platform shares were among the decliners.
Full articleSummary: Charles Schwab stock price increased by 0.3% after announcing a dividend, with analysts giving mixed ratings and a neutral average target price of $74.47. Insiders have been actively selling shares, and hedge funds have shown interest in the stock.
Full articleSummary: Nvidia is in advanced negotiations to acquire the Israeli startup Deci, a software company in the field of artificial intelligence.
Full articleSummary: Mani Suri has been appointed as the new Chief Information Officer for Follett Higher Education Group, where he will focus on leveraging cutting-edge technologies to enhance the collegiate retail experience for students, faculty, and communities. Suri brings over 25 years of IT industry experience, having served in leadership roles at companies like Ulta Beauty, 7 Eleven, and Capital One.
Full articleSummary: IBM shares dropped over 8% in extended trading after confirming acquisition of HashiCorp for $6.4 billion and reporting quarterly revenue below Wall Street expectations. CFO mentioned macroeconomic uncertainty affecting customer discretionary spending.
Full articleSummary: Zacks Research decreased Q1 2024 EPS estimates for ConocoPhillips. CEO and senior VP sold significant shares recently. Institutional investors making changes to their positions in COP.
Full articleSummary: IBM agreeing to buy HashiCorp Inc. for $6.4 billion, paying $35 a share. HashiCorp's share price rose 7.8% to $31.41.
Full articleSummary: Oracle Corp., which relocated its world headquarters from California's Silicon Valley to Austin in 2020, is considering moving its global base to Nashville, Tennessee. The potential relocation could have economic implications for Austin and Nashville as Oracle ramps up plans to shift its headquarters to a new location.
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