Summary: McDonald's to offer a free 6-piece Chicken McNuggets meal through its app on May 22, part of strategy to provide value to customers during summer season. The company plans more deals in the coming months to attract app users and reward loyal customers, following recent announcement of a $5 meal deal promotion starting on June 25.
Full articleSummary: Citigroup Global Markets Australia Pty Limited and its affiliates have increased their voting power in IDP Education Ltd. from 5.3854% to 6.5623%, through a series of transactions including securities lending agreements and stock market trades.
Full articleSummary: Target announces plans to reduce prices on nearly 5,000 items in order to attract more shoppers and help consumers save more. Other retailers like Ikea and Aldi are also reducing prices to cope with increased costs.
Full articleSummary: Salesforce.com (CRM) ended the recent trading session with a slight increase of 0.51% and is set to release its earnings report on May 29, 2024, with anticipated growth in both EPS and revenue. Analysts are optimistic about the company's performance, as reflected in the Zacks Rank of #3 (Hold) and positive estimate revisions.
Full articleSummary: Jamie Dimon indicated his expected tenure as CEO of JPMorgan Chase is less than five more years, a change from his previous responses. Succession timing at JPMorgan has been a persistent question for investors and analysts. Top candidates to replace Dimon include Marianne Lake and Jennifer Piepszak.
Full articleSummary: Bank of America warned investors that Federal Reserve rate hikes are unlikely in the near future, although rate cuts are not expected either. The bank pointed out that services inflation is above target, but the consumer spending outlook remains strong.
Full articleSummary: U.S. stock indexes edged higher after a mixed trading day, with the S&P 500 and Nasdaq setting new highs. Nvidia's upcoming quarterly results are highly anticipated with analysts forecasting a significant revenue increase. Target announced price cuts on essential items to provide relief to customers from higher prices.
Full articleSummary: Medtronic plc (NYSE:MDT) experienced a 1.1% drop in its share price during mid-day trading on Monday, with shares trading as low as $84.74. Analysts have recently updated their ratings on Medtronic stock, with a mix of hold and buy ratings provided. The company also announced a quarterly dividend and reported its quarterly earnings data.
Full articleSummary: Lucky Core Industries Limited announced the acquisition of certain assets from Pfizer Pakistan Limited and Pfizer Inc., including a manufacturing facility, well-established pharmaceutical brands, and associated trademarks.
Full articleSummary: Boeing has been granted a 5-year extension to build its 767 freighters, allowing the company to sell the planes until 2033 albeit out of global aviation compliance.
Full articleSummary: Chevron Corp.'s $53 billion deal to buy Hess Corp. received support from Glass Lewis & Co., but was advised against by Institutional Shareholder Services Inc. due to concerns about valuation and an arbitration case with Exxon Mobil Corp. The conflicting recommendations are creating uncertainty over the deal's outcome.
Full articleSummary: Boeing and SpaceX have been competing in a race to launch astronauts to the International Space Station after the retirement of the space shuttle in 2011. SpaceX won the race by launching astronauts in the summer of 2020, while Boeing has faced setbacks with its Starliner.
Full articleSummary: JPMorgan Chase CEO Jamie Dimon hints at succession plans, warns of limited share buybacks at current prices, and raises NII forecast; criticizes Basel III proposals; executives discuss potential impacts of increased capital requirements and predicted growth in investment-banking fees for the second quarter.
Full articleSummary: Target is cutting prices on thousands of items to help consumers save more due to inflation pressures. The price cuts affect approximately 5,000 items, including both perishable and non-perishable products.
Full articleSummary: Comcast announced a new bundle service called StreamSaver, combining Apple TV+, Netflix, and Peacock at a reduced price, available only to existing Comcast customers. StreamSaver is expected to launch later this month in May 2024.
Full articleSummary: California Resources Corporation (NYSE:CRC) doubled down on California by acquiring Aera Energy, facing challenges due to environmental regulations and declining production rates. The company is focusing on its carbon capture business and real estate assets to generate additional value, but investment uncertainties remain.
Full articleSummary: Target Corporation announced lowering everyday prices on approximately 5,000 frequently shopped items, with thousands more price cuts planned to take effect over the summer, which will collectively save consumers millions of dollars.
Full articleSummary: Analysts project that Intuit (INTU) will announce quarterly earnings of $9.34 per share, reflecting a 4.7% increase year over year with revenues projected to reach $6.63 billion, a 10.3% increase from the same quarter last year. The collective assessment of analysts also provides estimates for various key metrics of Intuit.
Full articleSummary: IBM is a leading computer services company with net sales breakdown as follows: 41.4% from cognitive solutions and software development, 31.6% from IT services, 25.3% from IT infrastructure, 1% from financing, and 0.7% from other sources. Geographically, 41.5% of sales are from the United States, 9.8% from the Americas, 29.7% from Europe/Middle East/Africa, 9% from Japan, and 10% from Asia/Pacific.
Full articleSummary: Google has introduced 'AI overviews' to search results, summarizing topics, facing controversy due to concerns about cutting off revenue stream for humans and companies writing about these topics, and potential decrease in quality of AI models without fresh real data. Users have reported errors in AI summaries. The AI assistant cannot be turned off currently.
Full articleSummary: Apple's $1 billion East Coast Hub project in Research Triangle Park appears to be in a holding pattern after three years since its announcement. Wake County and Duke Energy are ready to proceed but are waiting on Apple to move forward with the project.
Full articleSummary: Accountancy firm PwC reported that sectors utilizing artificial intelligence (AI) experienced a significant boost in productivity, outpacing other industries. The rise of AI is seen as a potential driver for economic growth and higher living standards.
Full articleSummary: AstraZeneca was ordered to pay Pfizer $107.5 million in damages for patent infringement related to its cancer drug Tagrisso. Tagrisso, AstraZeneca's top-selling cancer drug, was found to have violated patents held by Pfizer's Wyeth unit.
Full articleSummary: Nvidia is expected to report strong earnings for the April quarter but faces high expectations, with analysts predicting the company needs at least a $1.5 billion beat for a flat reaction. Analysts are positive on the stock's long-term prospects despite short-term volatility concerns.
Full articleSummary: Wells Fargo (WFC) stock closed at $60.70 with a -0.62% movement compared to the previous day. Investors are anticipating the upcoming earnings report expecting earnings of $1.25 per share. The Zacks Rank system currently rates Wells Fargo as #2 (Buy) and the stock is trading at a premium valuation compared to its industry average.
Full articleSummary: China added Boeing’s Defense, Space & Security unit, General Atomics Aeronautical Systems, and General Dynamics Land Systems to its Unreliable Entity List for arms sales to Taiwan, imposing restrictions and fines.
Full articleSummary: Amgen provided updates on IMDELLTRA approval and announced plans to study the drug in earlier lines of therapy. TEZSPIRE data in COPD patients showed promising results, especially in those with higher baseline eosinophil counts. OX40 pathway targeting drug rocatinlimab demonstrated positive results in atopic dermatitis Phase 2b study.
Full article