Summary: Short-seller Per Lekander believes Tesla's valuation is far too high, predicting a 91% decline in stock price. He considers Tesla to be the biggest stock market bubble in world history due to falling earnings, anemic demand, rising competition, ongoing lawsuits, and high compensation packages.
Full articleSummary: Exxon Mobil orders a Marlin vessel monitoring system from Viridien's Sensing & Monitoring to support offshore operations in Guyana.
Full articleSummary: The article discusses the impact of artificial intelligence on the stock market, particularly in the hardware industry, with a focus on Apple Inc. and its potential in AI initiatives. It also ranks Apple Inc. as the 2nd best hardware stock to buy according to hedge funds.
Full articleSummary: Apple is planning to return to emphasizing thinness in its devices after a brief period of prioritizing slightly thicker and heavier designs. The strategy includes making the iPhone 17 line in 2025 significantly skinnier and focusing on thinner versions of the Apple Watch and MacBook Pro.
Full articleSummary: Publicis Groupe aims to emphasize its AI expertise and strengthen relationships with existing clients at the Cannes Lions International Festival of Creativity. The company will hold closed-door meetings with clients in sectors such as CPG, automotive, financial services, pharma, and luxury. Publicis plans to highlight ready-to-market AI applications designed for outcomes, particularly focusing on data ownership.
Full articleSummary: Nvidia's rally will lead to a major technology ETF acquiring over $10 billion of Nvidia shares and reducing its holdings in Apple due to index rebalancing.
Full articleSummary: Costco's food court's new chocolate chunk cookie has generated a lot of buzz and attention due to being a popular dessert menu item.
Full articleSummary: PayPal has developed its own stablecoin named PayPal USD (PYUSD) which is providing stability in the crypto market. Users can make seamless transactions and benefit from robust security and transparency. Merchants and consumers are accepting PYUSD for online payments.
Full articleSummary: Broadcom's stock surges 4.9% on growing bullishness and anticipation of a stock split following strong financial results. Analysts from Baird and Deutsche Bank raise price targets, contributing to the stock's rise.
Full articleSummary: Lionsgate has acquired Francis Ford Coppola’s 'Megalopolis' and plans to release it on September 27, 2024. The film, self-funded by Coppola for around $120 million, has garnered mixed reviews but continues to build anticipation due to its polarizing reactions and star-studded cast including Adam Driver and Laurence Fishburne.
Full articleSummary: The article discusses the significance of artificial intelligence in stock market performance, particularly in the hardware sector, highlighting Intel Corporation (NASDAQ:INTC) as a key player in the AI hardware industry and examining its position among other hardware stocks.
Full articleSummary: Philadelphia Fed President Patrick Harker stated that a single rate cut by the U.S. Federal Reserve this year could be appropriate if his economic forecast proves to be accurate. Harker highlighted slowing economic growth, a slight increase in the unemployment rate, and a gradual return to the Fed's inflation target as key factors in his assessment.
Full articleSummary: Traditional finance players like BlackRock are hiring for digital assets-related positions as the digital-assets job market remains hot. Several key personnel changes are happening in major crypto companies, like significant hires and departures in the legal and regulatory field. Worldcoin, funded by Sam Altman, is also searching for a UK manager.
Full articleSummary: Zephyr has launched the world's first ITX-friendly Nvidia GeForce RTX 4070, named Sakura Blizzard, with a unique design including a single pink fan. The card's compact size, use of 8-pin power connector, and standard specifications make it suitable for small form factor systems.
Full articleSummary: Google is believed to have passed a new Nest Thermostat through the FCC. The device features Wi-Fi, Bluetooth radios, and a 60GHz radar similar to Soli technology. It may be a high-end Nest Learning Thermostat successor or a refresh of the entry-level model.
Full articleSummary: Global tech layoffs are nearing 100,000 this year with companies like Tesla, Google, Microsoft, and Tiktok shedding employees to satisfy investors. The pace of layoffs in the tech industry has slowed compared to the same period last year.
Full articleSummary: Tesla is fighting for legal recognition of a shareholder vote in favor of Elon Musk's compensation package, which the company claims significantly impacts the case.
Full articleSummary: U.S. Supreme Court agrees to hear Nvidia's appeal of lower-court ruling in a shareholder class-action lawsuit accusing the company of securities fraud related to crypto miner revenue misrepresentation.
Full articleSummary: Fisher Asset Management LLC increased its stake in Danaher Co. by 6.1% in the 4th quarter, several other hedge funds have also recently bought shares of DHR, Danaher's stock price traded down 0.3%, analysts reportedly have a consensus rating of 'Moderate Buy' on Danaher
Full articleSummary: The IRS announced a new initiative to crack down on wealthy tax cheats by closing a major tax loophole, using funds from the Democrat-backed Inflation Reduction Act. The agency estimates it could collect $50 billion over 10 years through this effort. IRS is also ramping up audits on wealthy taxpayers and large corporations.
Full articleSummary: Apple's new iOS 18 will make iPhone 14 and later models less reliant on wi-fi or cell connectivity. The company is expanding an emergency satellite messaging feature first introduced with iPhone 14, potentially leading to more profitability through services business.
Full articleSummary: Processus Wealth & Capital Management LLC acquired a new position in Bank of America Co. in the 4th quarter. Other hedge funds have also made changes to their positions in the company. Bank of America announced a quarterly dividend.
Full articleSummary: IBM and The All England Lawn Tennis Club are collaborating on a new digital fan offering powered by generative artificial intelligence for this year’s Wimbledon. IBM has activated several generative AI-based applications around major sporting events last year, including last year's Wimbledon and U.S. Open tennis championships, as well as The Masters.
Full articleSummary: Coca-Cola faces backlash in Bangladesh due to an advertisement attempting to dissociate itself from Israel, which has led to a significant decline in sales within Muslim-majority countries including Bangladesh. The advertisement sparked controversy by highlighting Coca-Cola's global presence, including in Palestine, where it has a factory in an illegal Israeli settlement.
Full articleSummary: BlackRock Sustainable American Income Trust plc has purchased 9,403 of its Ordinary Shares at an average price of 194.00 pence per share to be held in treasury.
Full articleSummary: Demand for GLP-1 weight loss drugs is surging, posing a challenge to healthcare stock Eli Lilly. The company is actively enhancing production, providing better access to treatments, and improving education about obesity. With the market for GLP-1 agonists set to reach $100 billion by the end of the 2020s, Eli Lilly's moves are crucial.
Full articleSummary: The news discusses the differences between private and public markets, and provides insights on how to trade IPOs and avoid common pitfalls. It highlights key points such as risk appetite, liquidity, access, and ways to navigate insider selling, slower growth, and lack of fundamental catalysts.
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