Summary: Consumers are suing Home Depot for allegedly false Memorial Day sales claiming that the discounts advertised by the retailer are inflated, potentially impacting pricing and refunds for consumers who purchased appliances.
Full articleSummary: ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at approximately $17.1 billion, amid rising oil prices. This acquisition is part of a trend among American energy companies making significant moves in the fossil fuel sector, with ExxonMobil and Chevron also recently completing major acquisitions.
Full articleSummary: First-time home buyers can benefit from a Costco membership by saving money on furniture, outdoor items, home remodeling, moving expenses, and insurance. Costco offers discounts on various home-related products and services, making the cost of homeownership more manageable.
Full articleSummary: Tesla shareholders will vote on CEO Elon Musk's multibillion-dollar compensation package at the annual meeting on June 13. The meeting will also include proposals on board re-elections and operational changes, such as the possible reincorporation in Texas.
Full articleSummary: ConocoPhillips (COP) is acquiring Marathon Oil (MRO) in a $17.1 billion all-stock deal. The acquisition is seen as a surprise but beneficial due to Marathon Oil's high free cash flow yield from capital discipline and good assets.
Full articleSummary: HP Victus gaming laptop with Intel Core i5 processor, Nvidia GeForce RTX 4050 GPU, and 16GB of RAM available for $950, a discount of $350. The laptop is lightweight at just over 5 pounds and sports a 16.1-inch FHD display with a 144Hz refresh rate.
Full articleSummary: BlackRock has surpassed Grayscale to become the largest custodian of spot Bitcoin exchange-traded funds (ETFs), attracting significant investor capital and increasing its total holding of Bitcoin.
Full articleSummary: Stifel Financial Corp trimmed its holdings in RTX Co., while other institutional investors and hedge funds increased their stakes. Wall Street analysts have recently adjusted price targets and ratings for RTX stock. RTX reported positive earnings and increased dividends, but insider selling activity was noted.
Full articleSummary: PepsiCo partners with GreenDot to recycle plastic waste into snack packaging materials, aiming to eliminate fossil-based plastic in crisp bags by 2030 and expand recycling capabilities in Europe, including establishing sorting facilities in Austria and acquiring companies in Italy and Germany. The partnership has already led to the launch of Sunbites crisp packaging containing 50% recycled plastic film.
Full articleSummary: Bank of America reiterated Apple (AAPL) as a top pick with a Buy rating and $230 price target. Analysts are optimistic about Apple's AI initiatives. Tech Editor Dan Howley discusses potential impact on smartphone sales and the importance of Apple's software features at the upcoming Worldwide Developers Conference (WWDC). Howley highlights the need for Apple to deliver a product that excites consumers.
Full articleSummary: Stocks slid on Wednesday due to turbulent trading in Nvidia and rising Treasury yields. Tech stocks like Nvidia fluctuated, causing uncertainty in the market. Despite strong gains earlier in the month, weakness was seen across various sectors including airlines and healthcare services.
Full articleSummary: Intech Investment Management LLC reduced its stake in The Bank of New York Mellon Co. (BK) by 66.9% in the fourth quarter. Additional institutional investors and hedge funds have also made changes to their positions in BK. Insider activity includes significant stock sales by VP Catherine Keating and EVP J Kevin Mccarthy. Bank of New York Mellon also announced a dividend payment, with a quarterly dividend of $0.42 per share.
Full articleSummary: PepsiCo collaborates with GreenDot to recycle plastic waste for snack packaging in alignment with sustainability goals, includes support for investment in recycling capabilities in Europe and establishment of sorting facilities in Austria and Italy. The partnership already led to the launch of Sunbites crisp packaging with 50% recycled plastic film, with plans for further sustainable packaging solutions.
Full articleSummary: NextEra Energy (NEE) stock has returned +15.8% in the past month, outperforming the Zacks S&P 500 composite. Analysts expect earnings growth for the company with estimates of $0.91 per share for the current quarter and $3.40 for the current fiscal year. The stock currently has a Zacks Rank #4 (Sell) due to recent changes in consensus estimates.
Full articleSummary: Hess receives stockholder approval for its planned merger with Chevron. Final voting results will be detailed in a Form 8-K to be filed later. Completion of the merger subject to other closing conditions and resolution of arbitration proceedings.
Full articleSummary: Home Depot is facing a pricing lawsuit regarding alleged misleading discounts on appliances over Memorial Day Weekend
Full articleSummary: Wells Fargo CEO mentioned that the asset cap is limiting the bank's ability to take in corporate deposits and expand trading business. The $1.95 trillion asset cap was imposed due to a fake accounts scandal.
Full articleSummary: 1. Nasdaq Composite closed above 17,000 for the first time driven by surge in Nvidia shares. 2. Federal Reserve's Kashkari seeks more inflation data before considering interest rate cuts. 3. American Airlines slashes second-quarter sales outlook, causing shares to fall over 8% in extended trading.
Full articleSummary: US stocks fell on Wednesday due to a spike in Treasury yields, with the S&P 500 dropping 0.7%, Dow Jones down 0.9%, and Nasdaq slipping more than 0.7%. Rising treasury yields are causing concerns among investors about potential Federal Reserve rate hikes and impacting stock prices.
Full articleSummary: JPMorgan Chase is prioritizing AI technology by increasing training hours for new hires, adding Python as a core skill, and implementing AI tools like ChatCFO and a large language model.
Full articleSummary: US consumers felt more confident in May, driven by the wealthiest Americans benefiting from high interest rates and strong economic growth. This poses a challenge for the Federal Reserve's interest rate policy which aims to stimulate the economy through rate cuts.
Full articleSummary: Nvidia CEO Jensen Huang's emails are concise and no more than six lines long, with a 'TL;DR approach' to ensure efficient communication, according to former employees.
Full articleSummary: Paypal announces new advertising platform led by Mark Grether and John Anderson to improve personalized user experiences. The platform uses consumer insights to target customers based on their buying history online.
Full articleSummary: Jensen Huang, CEO of Nvidia, has seen his net worth surge from $3 billion to $90 billion in five years due to his ownership of 86.76 million Nvidia shares. Nvidia's market cap is around $2.5 trillion, surpassing Apple and potentially becoming the most valuable company in the world.
Full articleSummary: Costco Wholesale Corporation is performing well as a dividend stock, with significant gains in stock price and consistently paying dividends for the last 19 years. Analysts consider it financially healthy with a strong balance sheet and growth plans. For higher yields, investors may also consider alternative investments like the Ascent Income Fund from EquityMultiple.
Full articleSummary: PayPal is building an advertising business leveraging data from 400 million users to create an ad network for personalized promotions and ads on and beyond its platforms.
Full articleSummary: Hess shareholders have voted to sell the company to Chevron in a $53 billion deal, with potential hurdles remaining such as arbitration and rights of first refusal involving energy giants like Exxon. The critical asset for this transaction is the Guyana asset, and Chevron has made it clear that without it, they are not interested in the acquisition.
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