Summary: Broadcom Inc. is dominating with 80% market share in the datacenter/AI Ethernet switching and routing chipset market due to its continuous innovation, with plans to launch the next-gen Tomahawk 6 chipset for AI clusters. Analysts expect Broadcom's stock to reach $2,000 by December.
Full articleSummary: Wells Fargo analyst Joe O’Dea maintained a Buy rating on Acuity Brands (AYI) with a price target of $295.00. The company's shares closed at $252.38. O’Dea has a 4-star rating and a 57.08% success rate in the Industrials sector. The consensus on Acuity Brands is a Moderate Buy with an average price target of $295.80. The company insider sentiment is neutral, with recent insider selling activity.
Full articleSummary: The 3D Printing for Aerospace Market is set to witness immense growth during the forecast period 2024-2031. The market intelligence report by Worldwide Market Reports covers market dynamics, key players, segmentation by type and application, and benefits for stakeholders.
Full articleSummary: Fortinet has announced the acquisition of cloud security startup Lacework, marking a significant move to strengthen its position in the high-growth cloud security market. The deal is expected to close in the second half of 2024 and brings Fortinet into the cloud native application protection platform (CNAPP) market, enhancing its competitive edge against rivals such as Cisco and Palo Alto Networks.
Full articleSummary: Analysts express bullish sentiments for Itron, Salesforce, and Monday.com in the Technology sector.
Full articleSummary: Trust Co. of Vermont reduced its stake in PepsiCo by 10.0% during the 4th quarter. Various large investors have also adjusted their positions in PEP. Wall Street analysts have given mixed ratings on PepsiCo with an average "Moderate Buy" rating and a consensus price target of $187.17. PepsiCo's recent quarterly earnings beat expectations. The company has increased its dividend and saw insider activity with CEO selling shares at $178.00.
Full articleSummary: Barclays analyst Carter Gould maintained a Buy rating on Eli Lilly & Co with a price target of $913.00, while TipRanks shows a Strong Buy consensus rating with a $878.88 average price target. TD Cowen also maintained a Buy rating on the stock with a $850.00 price target.
Full articleSummary: RGA Investment Advisors released their first quarter 2024 investor letter, highlighting strong economic growth, resilient inflation, and the outperformance of large caps. They specifically mentioned Danaher Corporation (NYSE:DHR) as one of their stocks of interest, underlining its performance and potential in the bioprocessing field.
Full articleSummary: Nvidia has released a new update, version 3.28, for its GeForce Experience software, bringing 122 new game profiles and fixing issues like the endless driver update cycle. The update also addresses bugs related to desktop recording, performance overlay, and screenshot capturing.
Full articleSummary: Scorpius Holdings, Inc. faces delisting proceedings from NYSE American due to low stock price, with trading expected to move to OTC Markets. The company plans to appeal the decision, but the outcome is uncertain, potentially leading to delisting by the SEC.
Full articleSummary: Zacks.com releases a list of companies likely to issue earnings surprises for Q2 2024, which includes Adobe, Oracle, Costco, and AutoZone. The Q2 earnings season has begun with positive results from Adobe and Oracle leading the way. Positive revisions trend and favorable outlook for corporate profitability are noted. Q2 earnings for the S&P index are expected to increase by +8.6% from last year, with Tech, Energy, Transportation, Utilities, and Autos sectors showing positive estimate revisions.
Full articleSummary: Nvidia's CEO unveiled ambitious plans to accelerate innovation in artificial intelligence, showcasing groundbreaking advancements with potential risks for stock investors. Major players in AI include OpenAI, Microsoft, and Nvidia, with Microsoft's collaboration with OpenAI on a $100 billion AI-data center project gaining attention. Investing in AI infrastructure stocks like Microsoft and Nvidia is recommended, along with opportunities in robotics and 3D virtual reality companies.
Full articleSummary: Chevron Corporation initiated repair activities on the Wheatstone platform in Australia, a key asset in CVX's portfolio, impacting LNG and domestic gas production. Repair activities focus on the fuel gas system, aiming to resume production in the coming weeks.
Full articleSummary: Objective Capital Management LLC reduced its holdings in The Coca-Cola Company by 4.2% in the 4th quarter, with their holdings in Coca-Cola worth $354,000. Various institutional investors, including Loomis Sayles & Co. and QRG Capital Management Inc., made changes to their positions. Analysts have issued positive reports on Coca-Cola, with an average rating of 'Moderate Buy' and an average target price of $68.55. Coca-Cola's insiders have recently sold shares. The stock is currently trading down 0.2%.
Full articleSummary: Wells Fargo expands its Dream. Plan. Home. closing cost credit to 16 additional metro markets to help low- and moderate-income families purchase homes, providing up to $5,000 towards closing costs. The credit aims to facilitate homeownership and drive economic growth in communities.
Full articleSummary: Lockheed Martin and Navantia Sistemas have achieved a Critical Design Review (CDR) milestone for the AN/SPY-7(V)2 radar to equip the Spanish Navy's new F-110 Bonifaz class frigates. Production phase has started with delivery expected to start in 2026.
Full articleSummary: Warren Buffett's Berkshire Hathaway trims stake in China's BYD, which surpassed Tesla as the world's largest seller of electric vehicles. Berkshire sold 1.3 million HK-listed BYD shares, reducing stake to 6.9% from 7.02%. BYD's share price fell about 30% since peaking in June 2022.
Full articleSummary: The Federal Aviation Administration is investigating an incident where a Southwest Airlines flight came within 400ft of the ocean during an aborted landing attempt in Hawaii. The plane narrowly avoided crashing into the Pacific Ocean due to pilot error. Additionally, another Southwest Airlines Boeing 737 MAX 8 suffered damage during a flight due to a 'Dutch roll'.
Full articleSummary: Cisco Systems Inc is reportedly planning to establish a cybersecurity center in Taiwan to expand the cybersecurity workforce and enhance digital security infrastructure in the region, addressing global shortage of skilled cybersecurity professionals. The initiative reflects Cisco's commitment to fostering a safe digital environment and includes partnerships with Taiwanese tech associations to bolster threat intelligence and cyber readiness throughout the region.
Full articleSummary: Charles Schwab reported strong growth in core net new assets, total client assets, and client assets under ongoing advisory services for May 2024. The company also opened new brokerage accounts and reiterated its revenue and pre-tax margin targets for the second quarter of 2024.
Full articleSummary: Delays in Tesla Cybertruck deliveries reported due to windshield wiper motor issues, owners experiencing non-functioning wipers with repair times of several weeks needed.
Full articleSummary: Chevron to begin gas well maintenance work in Lakkatura, Flames seen over Sylhet skies no cause for alarm, Flaring part of routine maintenance at Jalalabad gas field in Sylhet's Lakkatura
Full articleSummary: PayPal has been significantly punished on the stock market due to slowed growth and increased competition.
Full articleSummary: Saba Capital Management is requesting a US judge to prevent BlackRock from employing a tactic that would restrict investors' rights to elect the board of one of its closed-end funds. Saba filed a lawsuit against BlackRock in March alleging that the company adopted a bylaw making it difficult for new candidates to become fund trustees.
Full articleSummary: A London court detailed how Greek fintech Viva Wallet should be valued, which could lead to its sale after a fresh valuation. There was a discrepancy in valuation between EY and Houlihan Lokey, but neither reached the €5 billion threshold for JPMorgan to take full control.
Full articleSummary: Chicago Partners Investment Group LLC increased stake in RTX Co. by 2.2% in the fourth quarter. Analysts have given RTX various ratings including 'outperform', 'neutral', and 'positive'. RTX stock opened at $104.23 and has a market capitalization of $138.57 billion.
Full articleSummary: Chevron Bangladesh has begun gas well maintenance at the Jalalabad gas field in Sylhet’s Lakkatura. Flames will be visible for the next 60 hours. Chevron assured the local community of safety measures.
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