Summary: Tesla has sued Matthews International for allegedly stealing trade secrets related to Tesla's battery-manufacturing process and sharing them with competitors, claiming damages estimated to exceed $1 billion. Matthews began supplying Tesla with manufacturing machinery in 2019 and allegedly shared Tesla's innovations with unnamed competitors.
Full articleSummary: Stagwell partners with Google Cloud to integrate new AI-powered features across its digital marketing applications, utilizing Google Cloud infrastructure and AI services including Vertex AI and Gemini models.
Full articleSummary: Citigroup (C) and Bitfarms (BITF) received bullish sentiments from analysts. Citigroup was maintained at Buy with a price target of $66.00, while Bitfarms was reiterated as Buy with a price target of $4.00.
Full articleSummary: Oil prices face downward pressure due to a surge in global inventories and slowing demand growth according to Bank of America, who highlight a significant inventory build after geopolitical tensions.
Full articleSummary: Oil prices are under pressure due to a surge in global inventories and slowing demand growth, with BofA noting a significant inventory build and a clear deceleration in global oil demand growth.
Full articleSummary: FedEx is undergoing a consolidation process to unify its operating companies, including FedEx Express, FedEx Ground, FedEx Services, and other subsidiaries into Federal Express Corporation, aiming to create a more efficient network. The initiative, known as Network 2.0, targets a cost savings of $2 billion by FY '27, with potentially lower general rate increases by 2025.
Full articleSummary: California legislation aims to make companies like Meta/Facebook and Google pay a 'journalism usage fee' to news-producing groups shared on their platforms. The bill, AB 886, is moving forward in the Senate Judiciary Committee, despite opposition from tech industry representatives.
Full articleSummary: China is rapidly building new nuclear reactors, leaving the US up to 15 years behind. China plans to build 150 new reactors between 2020 and 2035, with strong state support. The US remains the largest producer of nuclear energy but lags in deploying advanced nuclear technologies.
Full articleSummary: Syon Capital LLC increased its holdings in Capital One Financial by 23.6% in the fourth quarter. Several other institutional investors also bought shares of the company. Recently, various brokerages have issued price target adjustments and ratings for COF stock. Capital One Financial announced a quarterly dividend. Insiders have been actively selling shares of the stock.
Full articleSummary: Lowey Dannenberg P.C. is investigating the proposed Acquisition of Agiliti, Inc. by Private Equity Firm Thomas H. Lee Partners, L.P. to determine if Agiliti shareholders are receiving adequate consideration and process.
Full articleSummary: BlackRock, Inc. now holds a combined total of 13.06% in voting rights and financial instruments in Great Portland Estates plc, signaling a growing interest in the UK-based property investment and development company.
Full articleSummary: 1. Microsoft (MSFT) slipped despite a bullish call, Newmont (NEM) popped on an upgrade. Nvidia (NVDA) hit an all-time high. Berkshire Hathaway (BRKB) cut stake in BYD (BYDDF). 2. Autodesk (ADSK) up nearly 6% on Nasdaq, Bio-Rad Laboratories (BIO) gained more than 5% on S&P 500. First Solar (FSLR) fell more than 6%. 3. Newmont received a bullish call with increased price target; Berkshire Hathaway sold 1.3 million shares of BYD for $39.8 million; Nvidia hit all-time highs.
Full articleSummary: US mining companies' market capitalization hit a record high, outperforming Bitcoin in June. Core Scientific's AI deal with CoreWeave boosted Bitcoin mining stocks, with Core Scientific Inc (NASDAQ: CORZ) being the best performer.
Full articleSummary: American Homes 4 Rent had its target price increased by JPMorgan Chase & Co. analysts from $37.00 to $38.00 with a 'neutral' rating, indicating a potential upside of 7.95%. The real estate investment trust also received positive ratings from other brokerages such as Scotiabank, Royal Bank of Canada, Raymond James, Keefe, Bruyette & Woods, and Mizuho, with a consensus rating of 'Moderate Buy'.
Full articleSummary: BMO Capital Markets adjusted Oracle Corporation's price target to $160 from $142, maintaining a Market Perform rating due to strong cloud infrastructure bookings and favorable revenue guidance for FY25. Analysts highlighted Oracle's positive traction in the cloud sector and its robust market position alongside Microsoft. The firm's neutral rating suggests the current stock price may already reflect the company's strengths.
Full articleSummary: McDonald's to end automated order-taking partnership with IBM this year after tests, but is confident in voice ordering solution for future.
Full articleSummary: Cisco announced plans to establish a cybersecurity center in Taiwan and collaborate with the government to address global talent shortage in the sector. The company also aims to partner with tech associations to enhance threat intelligence and cyber readiness.
Full articleSummary: Coca-Cola Beverages Philippines Inc. partners with the Metropolitan Manila Development Authority for a waste recovery and recycling campaign that integrates CCBPI’s Tapon to Ipon program with MMDA’s Mobile Material Recovery Facility project. The partnership allows community members to exchange recyclable materials for commodities or grocery items.
Full articleSummary: Wells Fargo's co-branded credit card partnership with fintech startup Bilt Technologies is causing the bank to lose up to $10 million monthly due to customers not carrying balances or doing any other transactions through the card.
Full articleSummary: Trust Co. of Vermont increased its position in FedEx's shares by 8.3% in the fourth quarter. Insider transactions involved Chairman Frederick W. Smith and VP Guy M. Erwin II selling shares. Analysts have provided varied price targets and ratings for FedEx.
Full articleSummary: Trust Co. of Vermont increased its holdings in Gilead Sciences during the fourth quarter. Several other hedge funds also made changes to their positions in the company. Insider Merdad Parsey sold 2,000 shares of GILD stock. Gilead Sciences' stock was down by 0.6% on Monday.
Full articleSummary: Nvidia and AMD are speeding up development and planning to release data center accelerator chips every year, creating challenges for Intel. Nvidia revealed plans for more powerful processors and expanded ecosystem support at Computex 2024, while AMD plans to release new chips starting this year to keep up with Nvidia. Intel is investing in the upcoming launch of its Gaudi 3 chip but may face challenges due to competition and delays in launching new products.
Full articleSummary: Boeing plans to grow its presence at Embry-Riddle Daytona Beach by leasing a new 6,000-square-meter facility for engineering services, particularly in software engineering, with plans to staff the building with 400 employees by the next two years.
Full articleSummary: New options trading for Intel Corp's January 2025 expiration creates opportunities for sellers, with a put contract offering a 9.97% return and a call contract potentially yielding 14.07% return if stock price reaches certain levels. Options trading data and past performance analysis are provided.
Full articleSummary: Trust Co. of Vermont increased its holdings in Salesforce by 0.5% during the 4th quarter, with several other hedge funds also adding to their stakes in the company. Insider activity included the sale of company stock by Director Craig Conway and insider Parker Harris. Salesforce's stock performance saw a decrease, trading down to $230.88 per share on Monday.
Full articleSummary: Trust Co. of Vermont reduced stake in Booking Holdings Inc. by 3.1% in the 4th quarter, Institutional investors have also been buying shares. Insider activity includes CEO and Director selling shares. Booking reported strong quarterly earnings, beating estimates. Company announced a quarterly dividend. Wall Street analysts have overall positive ratings on the stock.
Full articleSummary: Chinese GPU manufacturer Zephyr has unveiled a single-fan variant of NVIDIA's GeForce RTX 4070 featuring an ITX design.
Full article