Summary: GE Aerospace has opened a technology center in Istanbul to boost engineering, innovation, manufacturing, and research capabilities in the region, focusing on aircraft engine technologies and software solutions.
Full articleSummary: The IRS announced a new crackdown on wealthy tax cheats, aiming to collect $50 billion over 10 years by closing tax loopholes, funded by the Inflation Reduction Act of the Biden administration. The initiative targets abuse of 'basis shifting transactions' by business partnerships to avoid taxes.
Full articleSummary: Riverlane has joined the Quantum Energy Initiative to contribute to research on the environmental footprint of quantum computing, especially focusing on quantum error correction to drive down energy demands and carbon emissions. Their technology aims to reduce power consumption and energy expenditure in quantum computing processes.
Full articleSummary: Parallel 42 releases a new add-on 'Taboo' aiming to improve performance for Microsoft Flight Simulator users by allowing them to disable specific avionics on aircraft. The utility is user-friendly and non-invasive.
Full articleSummary: Citigroup is expanding its banking services in Japan to target midsize Japanese businesses, adding Japan to the regions where midsize businesses can access services.
Full articleSummary: MED-EL and Microsoft collaborate to enhance global communication technology for people with hearing loss, focusing on developing accessibility tools and communication technology for those using hearing devices like cochlear implants.
Full articleSummary: Broadcom announced a 10-for-1 stock split following Nvidia's stock split, resulting in a 16% increase in share price in just two days since the announcement. The stock split is intended to make ownership more accessible to investors and employees, and is seen as a positive move given Broadcom's growth potential in the generative AI era.
Full articleSummary: Shares of Philip Morris International Inc. (NYSE: PM) stayed red on Monday despite the company's smoke-free business showing positive growth in revenue and gross profit. The smoke-free business accounted for 39% of total revenues in Q1 2024, with strong performances from IQOS and ZYN. The company is focused on expanding its smoke-free products into international markets and expects significant growth in 2024.
Full articleSummary: Intel released OpenVINO 2024.2, the newest version of its open-source AI toolkit, with optimizations for Meta's Llama 3 large language model and support for Phi-3-mini AI models, Intel Atom Processor X Series, and Intel Xeon processors.
Full articleSummary: Salesforce (NYSE:CRM) has outperformed the market over the past 15 years by 10.86% on an annualized basis producing an average annual return of 23.68%. Currently, Salesforce has a market capitalization of $222.02 billion.
Full articleSummary: Apple discontinues Apple Pay Later in the United States and focuses on new global installment loan offerings through Apple Pay, accessible with eligible credit or debit cards, as well as Affirm. Existing Apple Pay Later users can still manage their loans through the Wallet app. This move comes after the initial launch of Apple Pay Later last year.
Full articleSummary: Comments by Nvidia CEO Jensen Huang spotlighting the importance of physical AI and robotics in the future, emphasizing the use of multimodal LLMs and reinforcement learning for robot advancement; mention of Nvidia and AMD moving to a one-year cadence for new architectures.
Full articleSummary: Fisher Asset Management LLC increased its position in Salesforce, Inc. by 5.2%, with the stock being its 8th largest position. Institutional investors have also made changes in their positions. Salesforce stock was up 1.3% and the company had a positive earnings report, beating analysts' estimates. Several research analysts have issued positive ratings on CRM stock.
Full articleSummary: Boeing CEO Dave Calhoun to testify before Senate panel on safety crisis, while Canada's antitrust watchdog probes airline competition after Lynx Air shutdown, indicating a turbulent summer for the airline industry.
Full articleSummary: Chicago Partners Investment Group LLC increased its position in Gilead Sciences, Inc. during the 4th quarter, owning 6,446 shares worth $513,000 at the end of the period. Several other hedge funds also bought shares of the company. Gilead Sciences announced a $0.77 quarterly dividend with a yield of 4.73%.
Full articleSummary: Kansas Attorney General Kris Kobach is suing Pfizer for misleading claims about its COVID-19 vaccine, accusing the company of concealing safety data and earning $75 billion from vaccine sales over two years. Pfizer disputes the claims and stands by the accuracy of its vaccine representations.
Full articleSummary: Microsoft is now targeting IT professionals and enterprise organizations to market Windows 11, emphasizing an easier transition from Windows 10 by dispelling misconceptions about the cloud-native management paradigm.
Full articleSummary: McDonald's Corp. is discontinuing its AI-powered drive-thru ordering system due to customer complaints. McDonald’s plans to explore voice-ordering technology and find new partners for automated order-taking efforts.
Full articleSummary: Financial giants have made a bullish move on NextEra Energy with 10 unusual trades spotted. Options history revealed 50% bullish and 50% bearish sentiment. Major market movers identified focusing on a price band of $65.0 to $75.0 for NextEra Energy over the last three months.
Full articleSummary: Palantir's Artificial Intelligence Platform (AIP) has been a huge success, particularly in the U.S. commercial sector, but the market has already priced in its success. With a high price-to-sales ratio, Palantir's stock is considered expensive.
Full articleSummary: Micron Technology Inc. is expected to benefit from the artificial-intelligence boom, with Cantor Fitzgerald analyst boosting the price target to $180 from $150. The company's advancements in high-bandwidth memory products are anticipated to drive revenue growth.
Full articleSummary: The Second Circuit affirmed dismissal with prejudice of an antitrust allegation by a class of plaintiffs against Forest Laboratories and several generic drug companies for settlement agreements in ANDA litigation. The Court's basis for affirming dismissal was that plaintiffs did not plausibly allege that any of Forest's reverse payments were unjustified or unexplained, instead of constituting fair value for goods and services obtained as a result of arms-length dealings. The Court agreed with the District Court that plaintiffs did not 'plausibly allege' that the settlements were unjustified and raised an antitrust violation, and had 'properly applied the general pleading principles established in Twombly [and] Iqbal.'
Full articleSummary: The Investment Committee provides top stocks to watch for the second half which include Apple (AAPL), Citigroup (C), Palantir (PLTR), and Amplify Mobile Payments ETF.
Full articleSummary: Cisco Investments launched a $1B AI investment fund to boost startup ecosystem and develop secure AI solutions, committing nearly $200M already. Cisco is making strategic investments in companies like Cohere, Mistral AI, and Scale AI to advance customers' AI readiness.
Full articleSummary: GameStop (GME) stock remains a meme stock with disconnected valuation from its fundamentals, making it more of a gamble than an investment. Despite recent equity sales strengthening its balance sheet, there is no clear plan for a fundamental turnaround, with the company opting for a cost-cutting strategy and unclear investment focus.
Full articleSummary: Ford has unveiled the F-150 Lightning SuperTruck with significant upgrades for the Pikes Peak International Hill Climb, aiming to beat the current record. The SuperTruck features advanced aerodynamics and a powerful powertrain, generating over 1,400 horsepower.
Full articleSummary: Autodesk and Walt Disney stocks rise due to positive news, while AMC Networks and Dycom stocks fall on negative news.
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