Summary: D.A. Davidson & CO. boosted its stake in General Dynamics Co. by 4.4% during the fourth quarter, along with other large investors increasing their positions. General Dynamics reported $2.88 earnings per share for the quarter, slightly missing the consensus estimate. The company also announced an increase in its quarterly dividend. Insider activity includes significant sales of company stock by VPs.
Full articleSummary: Eli Lilly's mirikizumab showed positive results in phase 3 trial for Crohn's disease, achieving high rates of clinical remission and endoscopic response in bio-naïve and bio-failed patients compared to placebo. The drug also displayed higher rates of clinical remission and endoscopic response than J&J's Stelara at week 52.
Full articleSummary: The US EEOC filed a lawsuit against Smithfield Foods Inc., alleging age discrimination against a senior sales employee who was fired at the age of 59. Smithfield claimed termination was part of a reduction-in-force, but most terminated employees were 55 or older. The case will be heard in the US District Court for the Northern District of Georgia.
Full articleSummary: Google plans to invest €1 billion to expand its datacenter campus in Finland, aiming to increase AI compute capacity and utilize thermal energy to heat local homes. The site's expansion is expected to create 500 jobs. Waste heat from the project will provide 80 percent of the city's district heating demand.
Full articleSummary: Blackrock Silver Corp. has entered into an agreement with Research Capital Corporation for an Offering to purchase 28,125,000 units at a price of $0.32 per unit, with gross proceeds of $9,000,000. The net proceeds will be used for exploration, resource expansion, and general corporate purposes. The closing of the Offering is expected around May 29, 2024.
Full articleSummary: Cazoo receives a non-compliance notice from NYSE regarding the delinquency of filing its Form 20-F for the fiscal year ended December 31, 2023, citing management's focus on strategic initiatives and liquidity concerns.
Full articleSummary: Aktis Oncology collaborates with Eli Lilly to develop cancer-targeting radiopharmaceutical drugs in a deal worth up to $1.1B, including milestone payments. Eli Lilly to leverage Aktis' radiopharmaceutical platform for solid tumor treatments.
Full articleSummary: Senate Finance Chair Ron Wyden is expanding the panel's probe into the tax practices of Pfizer Inc. to understand the company's profit-shifting practices.
Full articleSummary: Eli Lilly's Phase 3 study of mirikizumab in Crohn's disease showed more than one-half of patients achieved clinical remission at one year. Mirikizumab demonstrated statistically significant improvements compared to placebo in patients with previous biologic failure.
Full articleSummary: CallRail announced integration with Intuit Mailchimp to provide personalized and timely follow-ups for lead conversion based on AI-powered conversation insights.
Full articleSummary: Apple released a new Apple Pencil Pro for the latest iPad Air and iPad Pro 2024 models, featuring wireless charging coil, squeeze function for 'palette tool', and haptics. Goodnotes 6 and Morpholio Trace have been updated to support the new accessory.
Full articleSummary: Eli Lilly reports positive results in a Phase 3 trial for Crohn's disease treatment with mirikizumab, with over half of patients achieving clinical remission after a year.
Full articleSummary: CalPERS, the largest US pension fund, is voting against the board of Exxon Mobil Corp. at the upcoming shareholders meeting due to a dispute over shareholder proposals related to emission-reduction targets. ExxonMobil filed a lawsuit to exclude these proposals from its 2024 proxy statement, arguing that repeatedly submitting rejected proposals is not in investors' interest.
Full articleSummary: Shareholders at Amazon, McDonald’s, PayPal and FirstEnergy are given the opportunity to vote on proposals aimed at returning these corporations to political neutrality by shedding radical political positions and donations.
Full articleSummary: Intel has teased its Lunar Lake client processors for AI personal computers, set to arrive in Q3 2024 with over 80 designs from 20 manufacturers. Lunar Lake processors are expected to offer three times more AI performance than the current Intel Core Ultra processors and will have integrated memory for enhanced power efficiency.
Full articleSummary: AMD has introduced the EPYC 4004 series processors for entry-level servers, aiming to compete with Intel Xeon E series processors. This new series offers cost-conscious server options with features like AVX-512 and DDR5-5200 support, providing enterprise-class capabilities at a lower price point.
Full articleSummary: Wells Fargo analyst maintained a Buy rating on Devon Energy with target price of $60.00. Other analysts also gave Buy rating to Devon Energy.
Full articleSummary: Walmart (WMT) is the winning stock of the week with strong financial performance and market share gains. Cisco Systems (CSCO) is facing a downtrend due to lower revenue and uncertain growth prospects. Home Depot (HD) saw a decline in EPS but is focusing on growing market share and improving customer experience.
Full articleSummary: Stock market achieved record highs as Dow Jones surpasses 40,000 for the first time, led by Goldman Sachs, Microsoft, and UnitedHealth. Analysts are optimistic about the market's trajectory with projections of continued upward trend. Deutsche Bank raised S&P 500 target to 5,500, while BMO Capital Markets boosted it to 5,600.
Full articleSummary: CallRail announced a new integration with Intuit Mailchimp, allowing businesses to improve customer engagement based on AI-identified conversation insights and lead attributes.
Full articleSummary: Intel plans to integrate Lunar Lake processors into the upcoming Copilot+ PC series to enhance AI capabilities in notebooks, with a Q3 2024 release aligning with the holiday season. Lunar Lake processors offer over three times the AI performance of their predecessors, featuring over 40 NPU TOPS and 60 GPU TOPS.
Full articleSummary: Multiple insiders at The Walt Disney Company (DIS) have substantially increased their holdings in the past year, indicating growing optimism about the company's prospects. Insider purchases have exceeded sales, with notable transactions from individuals like James Gorman and Sonia Coleman. Insider ownership stands at 0.03% of DIS shares.
Full articleSummary: Coca-Cola's return on capital employed (ROCE) has remained stable over the past five years, indicating a lack of reinvestment for future growth potential. The stock has gained 47% in the last five years, suggesting investors may have positive expectations despite the stagnant ROCE. However, the company's high dividend payout ratio and limited reinvestment opportunities could hinder its potential for significant future growth.
Full articleSummary: Nike unveils Paris 2024 Olympic kits for Team Kenya and USA, eliciting mixed reactions from fans and athletes. Nike's preparation for the Olympics includes fine-tuning features like Dri-Fit and Air for better performance. The brand uses data-driven design and stats from sports research labs to optimize athlete experience and performance.
Full articleSummary: Google has made generative AI search results the default search experience in the U.S. and is set to expand globally, despite complaints from users about inaccuracies and dangers. Users have found a way to access a 'pure' Google Search experience by adding a URL parameter 'udm=14' or using a custom bookmarked URL.
Full articleSummary: Citi reaffirmed its Buy rating on Bristol-Myers Squibb Co. with a steady price target of $75.00, citing a positive adjustment in their financial model, primarily due to a 7% increase in non-GAAP EPS estimate for 2024.
Full articleSummary: Emerson introduces the Tescom HV-7000 Series regulator designed for hydrogen-powered heavy-duty vehicles to improve efficiency and reliability.
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