Summary: Fisher Asset Management LLC decreased its stake in PepsiCo, Inc. by 17.0% in the 4th quarter. Several other institutional investors also adjusted their positions in PEP. Wall Street analysts have issued mixed ratings on the stock, with an average target price of $187.17. PepsiCo reported an increase in earnings per share for the quarter and raised its dividend. CEO Ramkumar Krishnan recently sold shares of PEP at a price of $178.00.
Full articleSummary: Top gainers on the S&P 500 index were Autodesk (ADSK), Broadcom (AVGO), Tesla (TSLA), Super Micro Computer (SMCI), and Steel Dynamics (STLD). Top losers on the S&P 500 index were First Solar (FSLR), Align Technology (ALGN), Vistra Energy (VST), Match Group (MTCH), and Enphase Energy (ENPH).
Full articleSummary: NextEra Energy, Inc. (NYSE: NEE) intends to sell $2.0 billion of equity units, consisting of a contract to purchase NextEra Energy common stock and a beneficial ownership interest in a debenture. The net proceeds will be used for investments in energy projects and corporate purposes.
Full articleSummary: Interactive Brokers Chief Strategist Steve Sosnick suggests that Broadcom AVGO should replace Tesla TSLA on the list of 'Magnificent Seven' stocks due to Broadcom's emphasis on leveraging artificial intelligence. Broadcom stock is rising while TSLA stock is down, with Broadcom delivering strong earnings. The industry demand for high-capacity chips is driving the case for Broadcom stock.
Full articleSummary: McDonald's is discontinuing the AI-driven, voice-automated ordering technology it was testing at drive-thru systems in the US due to possible issues. The company plans to shut off the technology by July 26, 2024, reevaluating long-term solutions for voice-ordering by the end of 2024. Despite this setback, McDonald’s remains committed to AI development.
Full articleSummary: Tesla has sued former supplier Matthews International for allegedly selling its trade secrets and trying to patent confidential information related to electric-vehicle batteries. In response, Matthews called Tesla's complaints 'utterly without merit.' Tesla claims it's owed at least $1 billion in damages due to Matthews' alleged misconduct. Matthews plans to vigorously defend the matter, calling Tesla's lawsuit a new tactic in their efforts to bully and improperly take Matthews' valuable intellectual property.
Full articleSummary: Stocks opened lower but rallied by the close with technology stocks leading the charge. Autodesk (ADSK) surged on activist investor news, while semiconductor stocks also saw significant gains. Micron Technology (MU) gained 4.6% after a price target increase, creating a positive effect on other chip stocks like Super Micro Computer (SMCI) and Broadcom (AVGO). Adobe (ADBE) shares pulled back slightly on profit-taking after a recent rally.
Full articleSummary: Microsoft stock reached an all-time high after a Wall Street analyst reported strong uptake of the company's AI offerings, leading to a price-target hike and positive outlook for future growth.
Full articleSummary: Union Pacific Corporation (NYSE:UNP) saw a downgrade from Loop Capital, shifting its rating from Buy to Hold with a decreased price target of $238 from $276. The downgrade was due to concerns over operational efficiency and cargo volumes. However, Stifel upgraded the stock to Buy with a price target of $267, emphasizing operational efficiency improvements and growth expectations.
Full articleSummary: Oracle unveils significant AI enhancements to its Oracle Application Express platform, including the APEX AI Assistant to simplify development processes, accelerate application development, and improve operational efficiency for companies like Trailcon and Natcorp. Major analyst firms have revised Oracle's target prices following strong performance in cloud infrastructure and AI bookings.
Full articleSummary: Meta will delay the rollout of its new Meta AI features in the European Union due to regulatory issues with training its language models on local users' data.
Full articleSummary: Disney's 'Inside Out 2' has smashed box-office records over the weekend, with a strong debut in US and worldwide markets.
Full articleSummary: The state of Kansas is suing Pfizer, accusing the company of misleading the public about its COVID-19 vaccine by concealing risks and making false claims about effectiveness.
Full articleSummary: The U.S. Supreme Court agreed to hear Nvidia's appeal to dismiss a securities fraud lawsuit alleging misleading statements related to cryptocurrency sales impact on revenue. Nvidia's market value surged with the AI boom, and it settled with U.S. authorities for $5.5 million in 2022 related to cryptomining impact on its gaming business.
Full articleSummary: Several new ETFs were launched last week, including target-maturity bond funds, buffer strategies, and a Nasdaq-100 options strategy. Additionally, BlackRock announced the closure of several funds, and there were significant changes such as rebranding and renaming of ETFs.
Full articleSummary: Lockheed Martin is playing a significant role in supporting smaller space companies to IPO by signing contracts with space startups like Firefly Aerospace for satellite launches, potentially leading to strong revenue streams for both companies and improving profit margins for Lockheed's space division.
Full articleSummary: Financial giants have made a bullish move on Exxon Mobil with 22 unusual trades reported, showing 54% bullish sentiment and 18% bearish sentiment. The projected price targets for Exxon Mobil range from $70.0 to $130.0 according to options history analysis. Current market standing of Exxon Mobil shows a trading volume of 12,022,880 with the price at $108.5 and a slight decrease of -0.56%.
Full articleSummary: Microsoft has faced privacy issues with its Recall feature on Copilot+ PCs, leading to the feature being pulled back for further testing. Despite the controversy, Microsoft has quietly added new features to Recall including a 'screenray' utility, revamped homepage design, and improved integration with Copilot.
Full articleSummary: McDonald's is ending its Automated Order Taker pilot, which used AI in drive-thrus with mixed results. It acknowledges mishaps and frustrations experienced by customers, but still sees potential in exploring voice ordering solutions more broadly. Other fast-food chains like Chipotle, Taco Bell, and Pizza Hut are also embracing AI technology.
Full articleSummary: Nike is set to release a Lunar New Year-themed Kobe 5 colorway celebrating the 'Year of the Mamba' in 2025.
Full articleSummary: Starbucks reported a 6% growth in comparable-store sales in the U.S., driven by the success of its Nitro Cold Brew coffee and other cold beverages. The company also saw an increase in active members in its loyalty program and is investing in technology like machine learning to enhance the in-store experience.
Full articleSummary: Tesla has halted production and deliveries of its Cybertruck due to a problem with the electric motor powering its single windshield wiper, leading to safety concerns and delays in deliveries. Users report issues with the wiper motor failing, posing a safety hazard of reduced visibility in the rain.
Full articleSummary: FedEx is set to close its facilities in Myrtle Beach, Florence, and Lexington, resulting in layoffs for a total of 241 employees. The closures are part of FedEx's network evaluation and adjustments.
Full articleSummary: Intel (NASDAQ:INTC) faced issues with desktop chips causing game crashes. Despite a potential fix not fully solving the problem and concerns about its foundry plans, Intel shares gained slightly in Monday's trading.
Full articleSummary: Medtronic plc (MDT) shares dropped 1.7% on Monday, with analysts setting new price targets and the stock trading down 1.5%. The company also increased its dividend and saw insider transactions. Hedge funds have made changes to their positions in the stock.
Full articleSummary: Boeing CEO to testify before Congress on quality oversight and production failures, facing multiple investigations including a criminal probe by the Justice Department. Senators launched their own inquiries and aired concerns over safety failures at Boeing, despite the company's efforts to strengthen safety and regain public trust.
Full articleSummary: Objective Capital Management LLC purchased a new stake in Salesforce, Inc. during the fourth quarter, with 80.43% of the stock currently owned by institutional investors. Salesforce stock trading down 0.2% as of Monday, with insider transactions and analysts setting new price targets for the company.
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