Summary: ExxonMobil and Chevron annual meetings held amid scrutiny from lawmakers and climate activists. ConocoPhillips to acquire Marathon Oil in $17.1bn deal. Environmental campaigners condemn oil industry mega deals as exacerbating the climate crisis.
Full articleSummary: Meta Platforms Inc. removed hundreds of Facebook accounts associated with covert influence campaigns from multiple countries, some using AI tools to generate disinformation. Meta stated that the use of generative AI did not affect the company's ability to disrupt those networks.
Full articleSummary: Target has reduced its annual Pride collection to around 75 items from thousands after facing protests from conservative groups last summer.
Full articleSummary: Colgate-Palmolive Company is expected to report top-line growth in Q3 2022 driven by strong consumer demand, product innovation, in-store implementation, and premiumization efforts. Despite facing headwinds from higher raw material and logistic costs, as well as deleverage in advertising and SG&A expenses, the company is projected to benefit from the increased availability of its products and the growth of its Hill's business.
Full articleSummary: A power pylon near Tesla Giga Berlin, which was damaged in an alleged arson attack by environmental activists, has been completely repaired after costing over a million euros for repairs. The attack not only affected Giga Berlin but also several districts in Berlin and towns in Brandenburg.
Full articleSummary: Simon Property Group, Inc. (NYSE:SPG) has received a consensus rating of 'Hold' from analysts, with a twelve-month price objective of $145.33. Analysts have recently provided 'hold' and 'buy' recommendations for the stock. The company reported lower than expected quarterly earnings, revenue above estimates, and announced a share buyback plan and dividend increase.
Full articleSummary: Cisco and AT&T announce a new hassle-free digital buying experience for Cisco’s newest FWA devices, the Cisco Meraki MG52 and MG52E Cellular Gateways, making it faster and easier for businesses to take advantage of 5G Fixed Wireless Access (FWA).
Full articleSummary: Dick's Sporting Goods reported strong performance in the first quarter of 2022, especially in the footwear category. Nike, a key vendor, is highlighted for its innovation and upcoming product line-up, despite recent challenges. Other partners like Hoka and On also received praise for benefitting from Dick's full-service footwear decks.
Full articleSummary: Citigroup Inc. is focusing on streamlining its core business internationally and restructuring its organization to support financials. Despite concerns over escalating costs and growing fee income, the company aims to drive significant savings and enhance efficiency through these efforts. Additionally, Citigroup's impressive capital distribution program is supported by its strong capital and liquidity position.
Full articleSummary: Bank of America Corp. may recoup $167 million from the IRS as argued by US Chamber of Commerce and other business groups in an amicus brief filed at the US Court of Appeals for the Fourth Circuit.
Full articleSummary: Microsoft announced the introduction of its first African Startups AI Fest at GITEX Africa, aimed at supporting startups with AI-powered solutions and industry-specific expertise to accelerate their journey to market. The event is scheduled for June 6, 2024, in Johannesburg, South Africa, with virtual access for attendees across the continent.
Full articleSummary: FDA approved Amgen's Bkemv as first interchangeable biosimilar to AstraZeneca's Soliris for treating certain rare diseases, with similar treatment indications and Boxed Warning on meningococcal infections.
Full articleSummary: Salesforce, Inc. is set to report its first-quarter 2025 financial results, with estimated earnings of $2.37 per share and forecasted revenues of $9.15 billion, following strong growth in Q4 2024.
Full articleSummary: Amgen received FDA approval for Bkemv as the first interchangeable biosimilar to AstraZeneca's Soliris, aiming for a launch no later than March 2025. The biosimilar is highly similar to Soliris and will treat paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome.
Full articleSummary: Intel Extreme Masters Dallas 2024 is set to take place between May 27 - June 2, offering a $250,000 Counter-Strike 2 event with 16 top teams competing in a double-elimination format. Favorites like MOUZ, Vitality, G2, FaZe Clan, Natus Vincere, and Team Spirit are expected to perform well, promising exciting matches throughout the tournament.
Full articleSummary: Michigan Central and Henry Ford Health announced a partnership aimed at revolutionizing the intersection of mobility and health care in Detroit, focusing on research and development, community engagement initiatives, and knowledge sharing. The collaboration aims to improve well-being of Detroit residents, drive innovation, and address critical issues facing the community.
Full articleSummary: Legrand, a specialist in electrical and digital building infrastructures, announces its support of the Cisco Live Event in Las Vegas by providing products like cabinets, PDUs, fiber solutions, and cable management systems.
Full articleSummary: Major market averages trade in the red on Wednesday following a new record close for Nasdaq, with bond selloff spurred by weak Treasury note auctions. Consumer confidence unexpectedly rose in May.
Full articleSummary: Anrok announces Series B participation from Intuit Ventures. Anrok, the global sales tax platform for software companies, shared that Intuit Ventures has participated in its Series B funding round.
Full articleSummary: Chevron provided an overview of its business performance and plans at the 2024 Annual Meeting of Stockholders, highlighting achievements such as record-high production, strong financial performance, and strategic acquisitions.
Full articleSummary: Apple WWDC 2024 is approaching with the keynote event scheduled for June 10 at 10 AM PT. Expectations include the unveiling of iOS 18, iPadOS 18, watchOS updates, and AI advancements.
Full articleSummary: The banking sector faces challenges like hot money pursuit, inflation, and evolving interest rate policies by the Federal Reserve. Despite hurdles, the U.S. banking sector is expected to show resilience. Bank of America (BAC) has higher non-GAAP P/E compared to industry average. Citigroup (C) offers a discounted valuation and higher dividends.
Full articleSummary: The U.S. banking sector faces challenges such as hot money pursuit, inflation, and evolving interest rates by the Federal Reserve. Banks are focusing on deposit growth and quality over quantity. Comparing Bank of America Corporation (BAC) and Citigroup Inc. (C), C seems to be a better buy based on valuation and dividend yield.
Full articleSummary: Oracle has developed programs to recruit and train veterans and military spouses for new career paths, such as the Oracle Veteran Internship Program (OVIP). The company offers support, coaching, and workshops to help transitioning veterans integrate into corporate culture and pursue opportunities at Oracle. Oracle believes that finding and nurturing talent from the military branches is crucial for their continued success in business.
Full articleSummary: Comcast is investing $138 million in expanding its fiber network across several Utah counties, aiming to provide multi-gigabit speed and future-proof the state's economy. The expansion will contribute to bridging the digital divide and supporting community development through Project UP.
Full articleSummary: Storebrand, one of Norway's largest financial services companies, divested from IBM over its role in providing biometric databases to the Israeli government for maintaining illegal settlements in the Occupied Palestinian Territories. The move could set a precedent for other European investors.
Full articleSummary: Costco has appointed Ron Vachris as the new CEO, who has been with the company for 41 years, starting as a forklift driver at 17 and climbing the ranks internally. Vachris aims to continue Costco's successful strategy and online presence without arrogance or complacency.
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