Summary: British competition regulators are scrutinizing Microsoft's deals in AI industry as well as Amazon's $4 billion investment in Anthropic, due to antitrust concerns.
Full articleSummary: The market saw mixed price action with some sectors performing well while others lagged. Tesla, Texas Instruments, and Costar Group were among the top gainers, while Old Dominion Air Freight, Boeing, and Meta Platforms saw declines. IBM announced a deal to buy Ohashi Corp and reported first-quarter revenue slightly above estimates, but its shares tanked in the aftermarket.
Full articleSummary: NextEra Energy Inc. (NEE) stock could potentially see further gains this year as oil prices rise and alternative energy becomes more attractive. Analysts are revising their expectations for the stock after the company's strong first quarter earnings release. Additionally, long-term artificial intelligence electricity demand may drive institutional buy-in.
Full articleSummary: New York City enforces a rule requiring food outlets with more than 50 grams of added sugar to display warning labels on their menu boards and packaging. The Health Department's initiative aims to educate consumers on the health risks associated with excessive sugar consumption.
Full articleSummary: Tech giant Cisco Systems signed a Vatican-sponsored pledge to ensure ethical AI development, meeting privately with Pope Francis. The pledge emphasizes transparency, inclusion, responsibility, impartiality, and security in AI systems.
Full articleSummary: Oracle plans to move its headquarters from Austin to Nashville, where it aims to establish its world headquarters featuring a unique campus design. The move is part of Oracle's strategy to invest in health-care technology and align with its acquisitions in the sector.
Full articleSummary: Boeing reported a $355 million loss in the first quarter due to falling revenue and is facing scrutiny over the safety of its planes and accusations of shoddy work from whistleblowers. The company's CEO emphasized fixing manufacturing issues over financial results.
Full articleSummary: IBM has announced its acquisition of Hashi for $6.4 billion, intending to enhance its hybrid cloud platform with Hashi's infrastructure management offerings and generative AI applications. IBM expects growth opportunities from Hashi's revenue sources and plans to leverage Hashi's wares such as Red Hat's Ansible Automation Platform in simplifying configuration across hybrid cloud environments.
Full articleSummary: United Parcel Service, Inc. (UPS) stock traded down 2.9% on Wednesday following a decline in session volume. Analysts have mixed opinions about the company, with several adjusting price targets and ratings. The company reported earnings that beat consensus estimates, and also increased its dividend.
Full articleSummary: Tesla stock rallied 13% despite weaker-than-expected Q1 earnings and revenue. CEO Elon Musk announced plans for lower-cost models and a robotaxi service, including the Cybercab. Analysts have mixed sentiments with some bullish price targets.
Full articleSummary: Honeywell International Inc. (NASDAQ:HON) stock was down 0.9% during trading on Wednesday, with multiple analysts giving mixed ratings and target prices for the stock. The company also disclosed a quarterly dividend and announced insider selling. Institutional investors and hedge funds have recently been active in buying and selling shares of HON.
Full articleSummary: Honeywell (HON) is expected to announce its Q1 2024 results with revenue of $9.1 billion and adjusted earnings of $2.19 per share. The company may benefit from increased aftermarket services for commercial aerospace but might face challenges in warehouse automation sales growth.
Full articleSummary: Apple has released OpenELM, a set of open source large language models designed for on-device use, that aims to improve accuracy and efficiency in natural language AI. The company provided code, training logs, and multiple versions to aid faster progress in the field.
Full articleSummary: Airtel Africa purchased 40,921 ordinary shares at $0.50 each from Citigroup Global Limited on April 19, 2024, as part of its buy-back program. The company has already bought 11,995,292 ordinary shares in total since the start of the program.
Full articleSummary: Nike is currently offering a Mother's Day Sale with an extra 20% off select women's apparel and shoes using the code JUST4MOM. The sale ends on May 3.
Full articleSummary: Microsoft has announced the Phi-3 family of open small language models, with the first model Phi-3-mini outperforming larger models despite its smaller size. The innovative training approach involves high-quality data curation to improve performance and reasoning abilities. SLMs enable on-device deployment for low-latency AI experiences without network connectivity, with potential use cases in various industries like smart sensors, cameras, and farming equipment.
Full articleSummary: Sycomore Asset Management increased its holdings in Broadcom Inc. by 24.3% in the 4th quarter, with institutional investors and hedge funds also modifying their positions. CEO Hock E. Tan and CFO Kirsten M. Spears sold shares of the company recently. Analysts have mainly given a 'buy' or 'overweight' rating on Broadcom.
Full articleSummary: Walt Disney Studios Park has made a significant entrance change, removing Studio 1 and causing the temporary use of a backstage path as the park entrance, impacting the overall magic and experience for guests.
Full articleSummary: Russian court orders seizure of $439.5 million from JPMorgan Chase in response to legal action by VTB amidst US sanctions, shedding light on challenges faced by Western financial institutions in navigating geopolitical tensions and exit processes from the Russian market.
Full articleSummary: Boeing reported a loss of $355 million in the first quarter due to falling revenue and continues to face scrutiny over safety issues and manufacturing quality. The company is focusing on improving manufacturing processes and safety measures.
Full articleSummary: Tesla had a challenging first quarter of 2024, marked by decreased deliveries, lower revenues and profits, a significant drop in net cash and free cash flow, decline in profit margin, and deferring revenue from FSD driving option.
Full articleSummary: Mark Zuckerberg's testimony before the Senate Judiciary Committee contributes to a 19% drop in Meta shares in extended trading, despite the company reporting better-than-expected profit and revenue for the first quarter. Zuckerberg remains focused on discussing investment in new products over immediate monetization.
Full articleSummary: Truist Securities adjusted Texas Instruments' stock price target to $167 from $165, maintaining a Hold rating citing positive financial performance. They revised the calendar year 2025 EPS estimate to $6.55 from $6.86 due to increased expenses. Analysts believe the company is stabilizing despite mixed quarterly guidance.
Full articleSummary: Texas Instruments Incorporated reported a 16% year-over-year decrease in revenue for Q1 2024, primarily due to customers reducing inventory levels. The company's net income also dropped significantly. Despite the market downturn, TI remains focused on its long-term value strategy. Second quarter revenue is projected to range between $3.65 billion and $3.95 billion, with earnings per share expected to be between $1.05 and $1.25. The company is emphasizing strategic investments and competitive pricing to secure its position in the semiconductor industry.
Full articleSummary: Zacks Premium provides investors with various tools to make informed investment decisions, including Zacks Style Scores which help in picking stocks with the best chances of outperforming the market over the next 30 days. Exxon Mobil (XOM) is a #3 (Hold) on the Zacks Rank with a VGM Score of B and boasts a Value Style Score of B. The company is focusing on key oil and gas projects and has a solid track record of capex discipline.
Full articleSummary: ExxonMobil Marketing in Thailand expects a 10% growth in sales of its Mobil 1 lubricants this year by targeting high-performance cars and expansion of Mobil Super customer base, despite discontinuing sales at petrol stations under Bangchak brand; focusing on network of auto parts shops, car maintenance workshops, and lube centres as sales channels.
Full articleSummary: Schwab Charles Corp's Co-Chairman, Charles R. Schwab, sold a significant portion of his holdings in the company totaling over $6.6 million, with details on the number of shares and average sale price provided. Insider transactions like this can signal various factors and are closely monitored by investors. The company's market capitalization is strong, and metrics indicate optimistic expectations for future earnings growth.
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