Summary: PayPal announced that PayPal USD (PYUSD) is now available on the Solana blockchain, providing users with increased flexibility and control. Crypto.com, Phantom, and Paxos are among the first platforms to offer PYUSD on Solana, enabling a seamless fiat-to-crypto experience.
Full articleSummary: Hess Corporation's shareholders approved Chevron's $53-billion all-stock acquisition proposal, despite ongoing arbitration with Exxon over rights to Hess's stake in the Stabroek block. The approval marks a significant milestone in the merger process, with Hess CEO expressing optimism for a successful completion, despite challenges such as concerns over valuation and potential delays introduced by the arbitration.
Full articleSummary: Intuit is certified as the Best Firm For Data Scientists by Analytics India Magazine, highlighting a strong focus on AI excellence, customer-centric AI approach, and addressing talent crunch in the analytics industry.
Full articleSummary: OneVest announced the launch of its Model Portfolio Marketplace, featuring model portfolios constructed using BlackRock’s iShares exchange-traded funds, BlackRock is the first asset manager in OneVest’s Model Marketplace, providing institutionally managed investment solutions to financial institutions.
Full articleSummary: ConocoPhillips is acquiring Marathon Oil in a deal worth $17.1 billion as energy prices surge, joining the trend of large oil companies making significant acquisitions. The transaction, which includes debt, is valued at $22.5 billion, and it is part of a broader wave of energy company mergers fueled by cash reserves and rising commodity prices.
Full articleSummary: Boeing is expected to release a plan this week to address safety issues that have plagued the company, including ongoing problems with its 737 Max planes. The plan is crucial for rebuilding confidence among stakeholders after a series of accidents, investigations, and whistleblower claims have tarnished Boeing's reputation.
Full articleSummary: The construction of Intel's Fab 29 module 1 and module 2 near Magdeburg, Germany, has been delayed due to pending EU subsidy approval and the necessity to remove black soil, with a new start time expected in May 2025. The delay may impact the fab's readiness to produce Intel's client PC products by 2028 or later, pushing potential production start date to 2029-2030.
Full articleSummary: Yann LeCun, Meta's AI scientist, expressed that AI will not be smarter than humans in the near future and emphasized that AI is not a natural phenomenon but a technology that is designed and built by humans. He compared AI development to turbojets' reliability before deployment and indicated that the fear of AI posing 'existential risk' is premature.
Full articleSummary: Investors are aware of RTX's free cash flow target for 2025, but questions remain about its outlook beyond that year, especially in the aerospace and defense sectors. The company's commercial aerospace business has promising growth prospects, driven by aftermarket revenue and partnerships with industry leaders like Airbus. On the other hand, the defense segment may face challenges with low single-digit growth rates and margin issues.
Full articleSummary: Bitcoin derivatives facilitated the launch of successful spot bitcoin ETFs by NYSE, owned by Intercontinental Exchange, a competitor of CME Group in the industry, offering a traditional finance-friendly gateway to cryptocurrencies.
Full articleSummary: ConocoPhillips is acquiring Marathon Oil for $17.1 billion in an all-stock deal valued at $22.5 billion including debt. ConocoPhillips plans to raise dividend and conduct share buybacks following the acquisition.
Full articleSummary: Samsung is bringing Galaxy AI to Galaxy Watch to enhance health features by providing personalized and secure health experiences. The combination of on-device AI with the Samsung Health app offers comprehensive health insights, motivational encouragement, and greater precision in health metrics.
Full articleSummary: NYSE announces collaboration with CoinDesk Indices to introduce cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX), aiming to provide investors with a reliable and liquid risk-management tool within the cryptocurrency market.
Full articleSummary: Bristol Myers Squibb (BMS) has acquired the global license for Prothena’s neurodegenerative disease treatment candidate PRX019 for $80m with additional milestone-related payments and royalties. This adds to BMS' neuroscience pipeline and potential treatment options for neurodegenerative diseases.
Full articleSummary: Henry Ford Health is partnering with Google, Ford Motor and others to develop technology for its new $2 billion hospital tower.
Full articleSummary: China has established a new multibillion-dollar state-backed investment chip fund, Fund 3, focusing on advanced chips for AI and establishing the entire supply chain, amid an escalating technology war with the U.S.
Full articleSummary: ConocoPhillips is acquiring Marathon Oil in an all-stock deal worth approximately $17.1 billion, adding valuable acreage to its U.S. onshore portfolio. ConocoPhillips also plans to raise its ordinary dividend by 34% and buy back over $20 billion worth of shares in the next three years.
Full articleSummary: Tesla (TSLA) stock saw a decrease of 7.63% over the last month, not keeping up with the S&P 500's gain of 4.19%. Market participants are closely watching Tesla's upcoming financial results, with predictions of decreased EPS and revenue compared to the previous year. Analysts expect earnings of $2.47 per share and revenue of $99 billion for the full year, with recent changes in analyst estimates reflecting near-term business trends and affecting stock price performance.
Full articleSummary: Starbucks customers are experiencing longer wait times and reduced staffing due to recent layoffs and company policies, leading to a backlash from both patrons and employees. The company claims to have implemented a new algorithm to allocate labor and manpower more effectively, but challenges in fulfilling special orders and factoring in promotions persist.
Full articleSummary: Intuit offers free online tax training courses through Intuit Academy, fostering a strong work culture with tools and communication opportunities for remote employees, and providing flexibility including 401(k) plans and stock purchase options. The company encourages employees to learn new skills and advance their careers in tax and accounting.
Full articleSummary: Boeing is expected to release a plan to address safety issues under federal investigation, following a fuselage blowout in January. The plan is crucial for rebuilding confidence among the public, airlines, and regulators after past accidents and whistleblower claims. FAA had given Boeing 90 days to develop the plan and meetings have been ongoing regarding the company's progress.
Full articleSummary: IBM has gained close to 4% year-to-date in 2024 but underperformed Nasdaq-100 and Oracle stock, showing 35% gains due to focus on generative AI technologies. Despite mixed Q1 2024 results, investors are optimistic about IBM's AI business and collaborative approach with big tech companies.
Full articleSummary: ConocoPhillips is acquiring Marathon Oil in an all-stock deal worth $17.1 billion, including debt, with shareholders receiving 0.2550 shares of ConocoPhillips stock for each Marathon Oil share. The deal is expected to close in the fourth quarter, pending approval.
Full articleSummary: Meta is facing shareholder pressure to disclose costs and protection plans related to generative artificial intelligence (AI) amidst plans to scale investments in AI and upcoming U.S. and global elections. Shareholders will vote on proposed resolutions at the annual meeting, but Meta opposes the need for additional AI disclosures, claiming their existing measures are sufficient.
Full articleSummary: J&J and Merck are making billion-dollar deals to acquire rights to experimental treatments, with J&J acquiring a skin disorder treatment for $1.25 billion and Merck nearing a $1.3 billion deal for EyeBio. Insmed Incorporated's lung disease drug sees success in a Phase 3 trial, resulting in a surge in share price.
Full articleSummary: Cartography Biosciences has announced a deal with Gilead Sciences, less than two years after its launch.
Full articleSummary: The CEO of Salesforce AI, Clara Shih, compares the current state of development in AI algorithms to the early days of the Internet in 1988. She believes that AI is updating current jobs, not replacing them, and is on the brink of potentially groundbreaking advancements.
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