Summary: Ford is lowering barriers of entry for dealers to sell its electric vehicles (EVs) in an effort to expand its EV sales to more dealers across the United States.
Full articleSummary: Hess Corporation's $53bn acquisition by Chevron approved by shareholders, but at risk due to Exxon's claim of first refusal on Hess' assets in Guyana. Completion of the merger hinges on the satisfactory resolution of ongoing arbitration proceedings.
Full articleSummary: Cisco announced its participation in several upcoming financial conferences in September.
Full articleSummary: Oracle Corp has launched MySQL HeatWave on Amazon's AWS cloud, allowing customers to use the service without moving their data to Oracle's cloud. The service will also be available on Microsoft's Azure cloud in the future.
Full articleSummary: Medtronic is acquiring Mazor Robotics for $1.6 billion to venture into the robotic surgery market, aiming to enhance precision in spine and brain procedures and tapping into a potential market of 500,000 U.S. procedures annually. Despite increased competition, the deal is viewed positively by Wall Street, with Medtronic anticipating double-digit returns on invested capital within four years.
Full articleSummary: Peel Hunt LLP has reduced its voting rights in Oracle Power PLC, from 23.093554% to 21.216644% after a recent transaction.
Full articleSummary: Apple will be hosting WWDC 2024 from June 10 to 14, expected to announce new software updates for various Apple products, including AI-generated features for iPhones and app icon customization option for users.
Full articleSummary: Zscaler's CEO firmly denied rumors of acquisition offers from Broadcom, emphasizing the company's strong position in the zero-trust security market.
Full articleSummary: Hess Corporation receives stockholder approval for its sale to Chevron for $53bn in an all-stock transaction, with Hess shareholders to receive 1.0250 shares of Chevron for each Hess share. Chevron will issue approximately 317m shares of common stock upon completion. The only hurdle for the merger is the arbitration proceedings with ExxonMobil over preemptive rights in the Stabroek Block joint operating agreement.
Full articleSummary: Comcast Stock fell by 3.48% on Friday trading at 34.66 on the NASDAQ exchange.
Full articleSummary: ExxonMobil is suing activist shareholders pushing for climate policies to prioritize profits, leading to a showdown at a shareholder meeting. Powerful pension funds like CalPERS and New York State Common Retirement Fund plan to replace Exxon's board members over climate policies. The lawsuit claims that activists are trying to force company actions against its own interests.
Full articleSummary: The stock market is melting up as investors become more optimistic about the U.S.-China trade war and global growth, with new data from Bank of America supporting the positive sentiment.
Full articleSummary: McDonalds is introducing a new $5 meal deal, taking inspiration from their 1954 menu prices adjusted for inflation, aiming to offer value to customers amidst rising costs. Burger King has also announced a similar $5 deal in response.
Full articleSummary: Coca-Cola and Pepsi have raised wholesale prices of their beverages in China as a response to increasing cost pressures from rising raw material costs. Other beverage brands have also hiked prices since October 2022 due to similar reasons.
Full articleSummary: Bank of America has ceased to be a substantial shareholder in CardieX Limited, with no new associations reported.
Full articleSummary: Head of Citigroup's Australia and New Zealand debt capital markets business has left the bank, new head expected to be announced shortly.
Full articleSummary: Nvidia CEO praises Tesla's advancements in self-driving technology amidst increasing competition in the autonomous driving sector, highlighting the significant head start Tesla has in this field.
Full articleSummary: Colgate-Palmolive (India) Ltd. stock price dropped 0.51% in Wednesday's trade despite reporting higher sales and profits. Promoters hold 51.0% stake in the company.
Full articleSummary: Texas Instruments Inc reported better-than-expected quarterly revenue thanks to strong demand for its chips, as it caters to a broad range of markets.
Full articleSummary: Gilead Sciences Inc. has initiated an early-stage study of an inhaled form of its COVID-19 treatment remdesivir for use outside of hospitals, targeting cases that do not require hospitalization.
Full articleSummary: Boeing and IAFF Local I-66 have reached a tentative contract deal for about 125 firefighters, ending a lockout and months of negotiations. The deal is subject to a vote on Thursday with firefighters expected to return to work on Saturday.
Full articleSummary: Activist investor Elliott Investment Management reveals a $2.5 billion stake in Texas Instruments, urging the chipmaker to enhance its free cash flow through a dynamic capacity-management strategy. Texas Instruments has seen a significant decline in free cash flow, and Elliott's proposed strategy aims to achieve free cash flow of up to $9 per share by 2026. The company plans to maintain substantial capital expenditures to support manufacturing capabilities and revenue growth.
Full articleSummary: NextEra Energy Inc. (NEE) is currently in a Minor wave 3 according to Elliott Wave analysis, with anticipation of a completion of a three-wave move in wave 2 before trending higher. The next level of resistance is expected at around $80. On the four-hour chart, NEE is following an impulsive trend within wave (v) of {iii}, with upside potential towards $84.
Full articleSummary: Continental's RDT-Master off-the-road tyre receives approval from Caterpillar as a factory-fitted option for selected off-highway trucks, highlighting quality and performance in the earthmoving segment.
Full articleSummary: Colgate-Palmolive had its price objective boosted by Morgan Stanley from $101.00 to $103.00 with an overweight rating. Several other analysts also raised their target prices and ratings on the stock. The company recently reported strong earnings results and increased its dividend. Institutional investors have been adjusting their positions in the company.
Full articleSummary: Emerson Radio Corp.'s stock price passed above its 200-day moving average during trading, StockNews.com initiated coverage on Emerson Radio with a 'sell' rating on the stock, Emerson Radio's stock is down by 2.5%.
Full article