Summary: Google is offering its Workspace productivity suite at no cost for 18 months to new enterprise customers in exchange for signing a three-year contract with eligibility for significant discounts. This comes as Microsoft faces security challenges after major cyber incidents.
Full articleSummary: Tesla provided updates on the development of its Semi battery electric truck operation at ACT Expo. The company has been leveraging its experience and expertise gained from previous vehicle models to enhance the Semi's performance and reliability across various conditions. Tesla also highlighted efforts to drive down costs and maximize the benefits for customers through specialized charging hardware, energy storage solutions, and infrastructure optimization. The company is actively engaging with potential customers, including PepsiCo, and conducting customer demos to ensure the product fits well within the trucking ecosystem.
Full articleSummary: PepsiCo to expand its fleet of electric vehicles in California with 50 Tesla Semi trucks and 75 Ford E-Transit electric vans, aiming to reach net zero emissions by 2040.
Full articleSummary: The FDA has updated the Prescription Drug User Fee Act (PDUFA) goal date for Bristol Myers Squibb's subcutaneous formulation of Opdivo. The new goal date for completion of the review is December 29, 2024. This could potentially make subcutaneous nivolumab the first subcutaneously administered PD-1 inhibitor. Bristol Myers Squibb aims to provide innovative cancer treatments.
Full articleSummary: NVIDIA announced new AI performance optimizations for Windows, including faster AI models with the new R555 Game Ready Driver, acceleration of AI models in web apps through DirectML and support for DirectML execution backends in PyTorch. They are collaborating with Microsoft to scale performance on RTX GPUs.
Full articleSummary: Gilead Sciences (GILD) is being analyzed for its stock performance based on factors like earnings estimate revisions, projected revenue growth, last reported results and surprise history, and valuation. The company is currently rated Zacks Rank #5 (Strong Sell).
Full articleSummary: Union Pacific Corporation (NYSE:UNP) CEO Jim Vena, CFO Jennifer Hamann, and EVP Kenny Rocker participated in a conference call at Wolfe's Global Transportation & Industrials Conference. They discussed the company's forward-looking statements, first-quarter performance, safety, service, efficiency, and growth strategies, emphasizing a focus on pricing for value creation, operational efficiency, service quality, and network expansion in high-growth markets. The call also touched upon topics like labor negotiations, changes in demand for coal and intermodal transportation due to gas price fluctuations, regulatory challenges, and the restart of share buybacks.
Full articleSummary: Microsoft announced a new AI tool called Recall that will remember and understand everything users do on their computer by taking constant screenshots. The feature will be added to Windows 11, along with Copilot, another AI-powered tool.
Full articleSummary: IBM unveiled several artificial intelligence updates including expanding partnerships and launching the 'ALLaM' Arabic model, strengthening collaborations with companies like Microsoft, Amazon, and Meta, enhancing its AI ecosystem, and improving watsonx platform.
Full articleSummary: IBM unveiled several AI updates, partnerships with key companies like Microsoft, Amazon, Meta, Adobe, Mistral, and Salesforce, and launched an Arabic model through its partnership with the Saudi government.
Full articleSummary: Jamie Dimon, CEO of JPMorgan Chase, hinted at a sooner retirement timeframe than previously suggested, with plans for a succession in place. The bank tempered expectations of increased share buybacks due to current stock prices, signaling a more aggressive approach during price declines. JPMorgan raised its forecast for net interest income and discussed potential implications of proposed Basel III capital requirements.
Full articleSummary: Alphabet, Google's parent company, experienced a significant increase in net income and stock value despite layoffs and expenses caused by job cuts. The company's net income for Q1 2024 was $23.6 billion, marking a 57% increase compared to the same period last year. Alphabet's market cap reached $2.19 trillion, having increased by 24% since January.
Full articleSummary: Microsoft announces new AI computers in its Windows operating system to boost PC sales by integrating advanced AI tools that work offline and emphasize on personal AI assistants and real-time translation. The move comes in line with competitors like Dell and Lenovo also investing in AI-first PC computers.
Full articleSummary: Tesla workers are facing ongoing layoffs due to CEO Elon Musk's plan to cut upwards of 10 percent of staff to save money, creating uncertainty and fear among employees. The company has not provided clear timelines for when the cuts will end, leading to a lack of accountability.
Full articleSummary: Microsoft and Nvidia have both announced plans for a new range of 'Copilot+' PCs with AI computing capabilities, designed to accelerate AI workloads using Nvidia's RTX-powered hardware. Nvidia is also enhancing AI performance through advancements in Large Language Models, ONNX Runtime, DirectML, and PyTorch support on Windows.
Full articleSummary: EUR/USD remains firm near 1.0850 as investors await FOMC minutes and preliminary Eurozone and US PMIs. Doubts arise over the ECB extending rate-cut cycle beyond June. Fed officials emphasize need for more inflation data before considering rate cuts.
Full articleSummary: Hess is facing three lawsuits seeking to delay or block its proposed sale to Chevron due to alleged inadequate disclosures. Hess is voluntarily supplementing its proxy statement to address these claims. Shareholders are scheduled to vote on the Chevron takeover on May 28.
Full articleSummary: McDonald's is removing self-serve beverage stations and some locations may start charging for refills to provide a consistent experience across all ordering methods. The move follows the company's focus on affordability to win back customers after soaring prices drove some away.
Full articleSummary: 2 analysts expressed bullish sentiments on IHS Holding and Alphabet Class A. Analysts maintained Buy ratings on both stocks with positive price targets.
Full articleSummary: Caterpillar Inc. to pay $800K to resolve hiring discrimination against 60 Black applicants at Decatur facility, along with offering jobs and training. The company was found to have discriminated against applicants for fabrication specialist/welder positions from 2018 to 2020.
Full articleSummary: Comcast is launching a new cable-style bundle called StreamSaver which includes Peacock Premium, Netflix Basic, and Apple TV+ with ads at a discounted price. The bundle is aimed at boosting Comcast's broadband business.
Full articleSummary: John Deere confirms laying off 190 production employees in Waterloo, affecting a total of 5,200 employees, with 3,300 in production and maintenance roles.
Full articleSummary: Comparison between 2024 Ford Mustang Mach-E and Volkswagen ID.4 electric vehicles in terms of features, pricing and performance.
Full articleSummary: AMD showcased its latest end-to-end compute and software capabilities for Microsoft customers and developers, utilizing AMD Instinct MI300X accelerators, ROCm software, Ryzen AI processors, and Alveo MA35D media accelerators to provide AI tools, Microsoft is leveraging AMD technology for its Azure ND MI300X VMs, Hugging Face is the first customer of the new Azure instances, Microsoft partnered with AMD to achieve leading price/performance for GPT workloads on Azure using AMD solutions.
Full articleSummary: International Assets Investment Management LLC reduced its stake in Intuit Inc., while numerous other institutional investors have been increasing their positions. Additionally, Wall Street analysts have provided positive ratings and price target upgrades for Intuit. The company's recent earnings report exceeded expectations, leading to optimistic forecasts.
Full articleSummary: Chris Kotowski from Oppenheimer maintained a Buy rating on JPMorgan Chase & Co. (JPM) with a price target of $217.00. Barclays also assigned a Buy rating to the stock with a $212.00 price target. JPMorgan Chase & Co. has an analyst consensus of Strong Buy with a price target consensus of $213.37, indicating a 9.10% upside from current levels.
Full articleSummary: Comcast introduces a new streaming bundle called StreamSaver, including Peacock, Netflix, and Apple TV+ for $15/month for Xfinity customers. The bundle aims to offer savings of more than 30% and can be combined with Comcast's NOW TV for $30/month. The move comes amidst industry competition and customer demand for bundled discounted services.
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