Summary: Unrealised losses grew at 14 large and mid-sized US banks in the first quarter, with an aggregate rise of $6.3 billion to $144.9 billion under accumulated other comprehensive income (AOCI).
Full articleSummary: Nvidia acquires Run:ai, an AI-centric Kubernetes orchestration provider, in a deal potentially valued at $700 million. Run:ai's platform is designed to integrate with third-party AI tools and frameworks and is focused on GPU accelerated containers environments.
Full articleSummary: The article evaluates Eli Lilly and Johnson & Johnson stocks, suggesting a neutral view for Eli Lilly and a bullish view for Johnson & Johnson. It discusses the differences in their stock performances, valuations, upcoming catalysts, and analysts' price targets.
Full articleSummary: Microsoft has announced the development of a small, locally run family of AI language models called Phi-3 mini, which outperforms many models in its class and even some that are larger. The new SLM can run on devices not connected to the internet and offers 3.8B parameters for applications.
Full articleSummary: Tesla announces layoffs and plans for more affordable vehicles which led to a 12% increase in its share price on NASDAQ.
Full articleSummary: Wynn Capital LLC acquired a new position in RTX Co. shares, with several other large investors also adding to their stakes. Insiders have sold significant shares of the stock. Analysts have weighed in on RTX with varying ratings and price targets.
Full articleSummary: Cisco Systems announces that hackers have exploited vulnerabilities in its security devices to breach government networks globally, urging customers to update their software to address the issue.
Full articleSummary: Warren Buffett admits Berkshire Hathaway overpaid in 2015 merger that created Kraft Heinz, Berkshire lost $4.3 billion on its stake due to Kraft Heinz's recent woes, Buffett has no plans to change Berkshire's stake in Kraft Heinz
Full articleSummary: Cisco Systems reported that hackers exploited vulnerabilities in its Adaptive Security Appliances to breach government networks globally. The company urged customers to update their software to address the issue.
Full articleSummary: JPMorgan Chase opens a new, modern office in Glasgow to accommodate its growing staff members and provide a contemporary working environment.
Full articleSummary: HBAR, the native token of the Hedera blockchain, surged over 96% following the tokenization of BlackRock's fund on Hedera with Archax and Ownera. However, there is a debate surrounding BlackRock's actual involvement in the project, leading to concerns in the crypto community about potential misconceptions.
Full articleSummary: Dow Jones futures, S&P 500 futures, and Nasdaq futures fell overnight as Meta Platforms plunged on guidance, while ServiceNow and Chipotle reported earnings. Market rally started with gains but ended narrowly mixed. Nvidia suffered a downside reversal, while Vertiv and Tesla saw notable stock movements. IBM and Impinj also reported earnings.
Full articleSummary: Rogers Communications signed a 10-year agreement with Comcast to introduce Xfinity products and technology in Canada, including Entertainment OS, new gateways, and expanded home security products. The goal is to enhance the entertainment experience for Canadian customers.
Full articleSummary: Intel Corporation is expected to report higher revenues in the first quarter of 2024, driven by strong performance in the Client Computing Group (CCG) segment. The company launched new processors and platforms targeting gamers, content creators, automotive industry, and developers to unlock additional revenues. Intel also secured significant funding under the CHIPS and Science Act to fuel innovation and expansion.
Full articleSummary: Rumor suggests Google could release new Pixel Tablet without charging/speaker dock included, tablet could potentially retail for around $370 or $350. Leaker also mentions plans for 'Pen and Bluetooth Keyboard' accessories retailing for 100 euros each.
Full articleSummary: Tesla plans to ramp up its AI development with Nvidia's powerful chips, potentially installing 85,000 H100 chips by year-end. Nvidia's stock faced a significant drop due to disappointing earnings reports from other companies, despite maintaining bullish sentiments from analysts. Tesla stock lost 11% in the last 12 months while Nvidia gained 205% in the same period.
Full articleSummary: EU antitrust regulators approved Eli Lilly's $5.4 billion takeover of Novartis' animal health business, leading to the strengthening and diversification of Lilly's Elanco unit
Full articleSummary: Prabhakar Raghavan, Google's search chief, warned staff about changing landscape as rivals challenge its search dominance. Microsoft enhancing search experience with AI-infused features. Competition heating up.
Full articleSummary: Meta stock plummeted over 16% in after-hours trading despite reporting better-than-expected sales. The company's revenues for the last quarter were $36.5 billion, up almost 30% from the same period last year, with profits doubling to $12 billion.
Full articleSummary: Tesla's battery electric Class 8 Semi truck, which has been delayed multiple times, is expected to start production with external customers in late 2025 and 2026. Several other companies like PepsiCo are piloting electric trucks, including Freightliner and Schneider, which already have successful deployments.
Full articleSummary: Meta Platforms Inc., parent company of Facebook and Instagram, reported a more than doubled first-quarter profit due to higher advertising revenue. However, its shares dropped sharply in after-hours trading following lukewarm revenue guidance for the current quarter. The company also announced higher-than-anticipated capital expenses for 2024 due to investments in artificial intelligence.
Full articleSummary: The article discusses the perspectives of a Tesla devotee, Dennis Wang, who believes in Elon Musk's leadership despite recent challenges faced by Tesla. While fans view Tesla as a tech company due to its software innovations, Wall Street emphasizes the need for Tesla to boost car sales for revenue growth. The article raises concerns about Tesla's plans for volume growth in markets like China, competition from Chinese EV maker BYD, and potential roadblocks including morale issues, trust between Musk and investors, and management challenges.
Full articleSummary: Coca-Cola FEMSA (NYSE:KOF) reported strong Q1 2024 results with 7.3% volume growth driven by Mexico, Brazil, Guatemala, Colombia, and Central America South. Revenues grew 11.2% to MXN63.8 billion. Margins in South America were strong, except for Argentina. Juntos+ Version 4.0 showing positive results in Mexico and Brazil.
Full articleSummary: Nvidia Corp. has agreed to acquire Israeli startup Run:ai, known for software handling AI computing resources.
Full articleSummary: Cisco has disclosed three vulnerabilities in their Adaptive Security Appliance (ASA) and Firepower Threat Defense (FTD) products that are being actively exploited. Users are urged to upgrade to the latest versions immediately.
Full articleSummary: Tesla has confirmed the production of 1,000 Cybertrucks in a single week in April 2024, showing successful ramp-up at Gigafactory Texas.
Full articleSummary: Citigroup upgraded their outlook for Sirius XM Holdings from Sell to Neutral, with an average one-year price target suggesting a 47.16% upside. The company also declared a $0.03 dividend per share and the average portfolio weight of all funds dedicated to SIRI increased.
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