Summary: Fed rate cut in June is still highly possible which may impact risk assets due to continued pressure as markets seek more evidence of US disinflationary trend.
Full articleSummary: Boeing and US Army are reverting back to an older generator for AH-64E Apache fleet due to safety concerns with the new generator, while also searching for a long-term solution.
Full articleSummary: PepsiCo's Q1 2024 earnings report shows resilience and strategic adaptation, with net revenue growth driven by effective pricing strategies and strong performance in international markets. The company reaffirmed its guidance for 2024, projecting organic revenue growth of at least 4% and core constant currency EPS growth of at least 8%. PepsiCo's commitment to expansion in developing markets, productivity improvements, innovation, and sustainability initiatives positions it for continued success.
Full articleSummary: Rubrik slightly upsized its NYSE IPO and priced the offering above range for proceeds of US$752m, with a fully diluted market cap of around US$6.6bn. It was well received by investors, backed by strong subscription revenue growth.
Full articleSummary: US Durable Goods Orders missed forecasts but still climbed, US GDP and PCE inflation are key data highlights for the rest of the week. The Dow Jones Industrial Average recovered from an early dip to 38,300.00, now near 38,500.00. Dow Jones technical outlook remains bullish despite recent selling pressure.
Full articleSummary: Pfizer plans to meet with U.S. officials to discuss their COVID-19 vaccine booster and emergency use authorization request. Local doctors have mixed opinions on the necessity of the booster shot.
Full articleSummary: JPMorgan Chase & Co. CEO Jamie Dimon praised Prime Minister Narendra Modi's leadership and bold reforms in India, commending his proactive approach to challenges, recognition system, banking access, poverty reduction initiatives, education system, infrastructure, streamlined tax system, and actions in breaking bureaucratic barriers.
Full articleSummary: Ford Motor Co reported a strong first-quarter performance with revenue surpassing estimates and earnings per share closely aligning with forecasts. The company's strategic emphasis on high-demand products and hybrid technology contributed to revenue growth.
Full articleSummary: Lockheed Martin Corporation's stock price target increased by Deutsche Bank following strong first-quarter 2024 financial results, with revenue, segment earnings, EPS, and free cash flow exceeding expectations. Notable growth in Missiles and Fire Control and Rotary and Mission Systems, margins in Space segment outperformed. Concerns raised about net earnings adjustments, potential charges related to the AIM-260 program, and margin pressures.
Full articleSummary: Cisco Systems has joined Microsoft and IBM in signing onto a Vatican-sponsored pledge to ensure artificial intelligence is developed and used ethically. The pledge outlines key pillars of ethical and responsible use of AI, emphasizing principles of transparency, inclusion, responsibility, impartiality, and security.
Full articleSummary: Boeing's stock slid after reporting losses narrower than expected but still negative free cash flow due to the 737 Max crisis, with a decline in revenue and deliveries. Moody's downgraded Boeing's debt rating. Boeing took actions to improve quality and safety management system. Boeing stock declined more than 36% this year.
Full articleSummary: DMG Blockchain Solutions Inc., PayPal, and Energy Web are collaborating to find ways to decarbonize the Bitcoin blockchain by exploring carbon neutral options in transactions and developing sustainable mining practices.
Full articleSummary: Texas Instruments (TXN) stock price surged by +5.64% following strong Q1 performance and optimistic Q2 forecast. Analysts highlight TI's innovation in analog chip design and its strategic focus on economic resilience and efficient capital management.
Full articleSummary: General Dynamics Corporation's stock faced a dip of -3.97% in the latest trading session due to mixed Q1 numbers with earnings falling short of estimates. Despite this, the CEO's positive remarks on customer comfort with AI driving future sales and potential future prospects in shipyard operations and business jet deliveries have kept the overall outlook positive.
Full articleSummary: Texas Instruments Incorporated (TXN) reported better-than-expected first-quarter revenue but witnessed a decrease in quarterly gross profit and operating profit. The company's revenue declined across all end markets, and it provided a revenue forecast for the second quarter.
Full articleSummary: Google fired over 20 workers for participating in protests over the company supplying technology to the Israeli government amid the Gaza war, bringing the total number of terminated staff to more than 50.
Full articleSummary: Apple has released a generative AI model called OpenELM, which outperforms other language models by 2.36 percent accuracy utilizing layer-wise scaling technique for parameter allocation in the transformer model.
Full articleSummary: Salesforce, Inc. (NYSE: CRM) stock price traded up 0.2% during mid-day trading, with analysts setting new price targets and a dividend announcement. Insider buying and selling activities were also reported. Hedge funds have recently made changes to their positions in Salesforce.
Full articleSummary: Tesla unveiled a first look at its upcoming Robotaxi-powered ride-hailing service app, detailing features like interior climate control and real-time vehicle tracking.
Full articleSummary: JSC TBC Bank engaged in a $300 million debt offering with underwriters like BCP Securities, Citigroup, and J.P. Morgan Chase and Co., counseled by Latham & Watkins.
Full articleSummary: Citigroup announced a debt offering valued at 1 billion Canadian dollars with underwriter guidance from Cleary Gottlieb Steen & Hamilton.
Full articleSummary: IBM dropped 9% in extended trading due to weak consulting unit sales, despite acquisition of HashiCorp Inc. IBM reiterates its outlook of $12 billion in free cash flow for the fiscal year. IBM agreed to buy HashiCorp for $6.4 billion, aiming to focus on high-growth software and services.
Full articleSummary: Goldman Sachs and Bank of America shareholders voted against separating CEO and chairman roles, despite recommendations from proxy advisers and Norway's sovereign wealth fund. Majority happy with performances and pay packages of CEOs. Vote may indicate future potential for chairman/CEO separation.
Full articleSummary: A study found that a small number of multinational companies are responsible for a significant amount of the world's plastic pollution, with five companies contributing a quarter of the pollution. Despite efforts by some companies to reduce plastic usage and increase recyclability, experts argue that plastic production continues to rise and recycling rates remain low.
Full articleSummary: A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase due to funds frozen in U.S. accounts following the Ukraine invasion. JPMorgan is exposed to a potential loss for abiding by U.S. sanctions.
Full articleSummary: Hess Corp sets April 12 as the record date for the shareholder vote on the proposed merger with Chevron Corp. Exxon Mobil and CNOOC Ltd filed cases seeking first refusal rights over any sale of Hess' stake in the Stabroek offshore oil block in Guyana.
Full articleSummary: Ford reported strong fleet sales that offset losses in electric vehicles, with profits of $1.3 billion in the first quarter.
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