Summary: Delaware Court of Chancery dismissed a stockholder lawsuit against Meta Platforms, Inc., its board of directors, and Mark Zuckerberg, rejecting claims that directors' fiduciary duties extend to diversified equity investors. The court affirmed a firm-specific model of fiduciary duties, stating directors owe duties to the corporation and its stockholders, not stockholders as diversified investors. A diversified investor model can exist but is not legally required.
Full articleSummary: Home Depot has been fined $1.3 million over fire code violations at a store in San Jose's Blossom Hill neighborhood that was destroyed by an arsonist. The investigation revealed serious code violations at more than a dozen Home Depot stores in Santa Clara county.
Full articleSummary: Rosen Law Firm reminds purchasers of Intel Corporation securities of the lead plaintiff deadline and the opportunity to join a class action lawsuit due to alleged false and misleading statements made by Intel executives during a specific period.
Full articleSummary: APA Corp. sold non-core Texas interests and leasehold in the Permian’s Midland Basin and Eagle Ford Shale plays for over $700 million to prioritize debt reduction after acquiring Callon Petroleum.
Full articleSummary: McDonald's is transitioning away from self-serve beverage stations and some locations may start to charge for refills. To combat slowed foot traffic due to inflation, McDonald's is introducing a $5 meal promo.
Full articleSummary: Black Hills updated its FY 2024 earnings guidance with a range of 3.800-4.000 per share, slightly below the consensus estimate of 3.910. The company reported a return on equity of 8.37% and a net margin of 12.92% in its recent earnings results. Black Hills declared a quarterly dividend of $0.65 per share, representing an annualized dividend yield of 4.58%.
Full articleSummary: Nvidia's upcoming earnings report for its fiscal first quarter of 2025 is highly anticipated, with expectations above consensus estimates, but there are concerns that even meeting bullish expectations may not be enough to satisfy investors. Analysts like Bank of America's Vivek Arya remain bullish on the stock, with a Buy rating and a price target of $1,100, suggesting 16% growth potential.
Full articleSummary: Analysts at RBC Capital and UBS rate JPMorgan Chase & Co. as a Buy with a target price of $211.00. KBW maintained a Hold rating on the stock. JPM reported a quarterly revenue of $41.93 billion and a net profit of $13.42 billion.
Full articleSummary: Microsoft is launching Copilot+ PC lineup with Qualcomm Snapdragon X Series chips, while Intel will be part of the lineup with Lunar Lake processors expected to ship in Q3 2024. Intel's Lunar Lake processors boast significant AI performance improvements.
Full articleSummary: Apple issued a fix in iOS and iPadOS 17.5.1 to address a rare issue where deleted photos could reappear due to database corruption, leading to privacy concerns. Apple has not provided public comments on the matter despite multiple requests for clarification.
Full articleSummary: The Dow Jones industrial average closed above 40,000 for the first time in history, showcasing a strong stock market performance. The economy is reported to be looking very good with low unemployment and robust economic growth.
Full articleSummary: Microsoft unveiled a new lineup of Windows machines called Copilot+ PCs and features like Recall powered by generative AI. New Microsoft Surface devices are also on the way.
Full articleSummary: Meta's advertising policies under scrutiny as watchdog group reveals approval of 'highly inflammatory' ads targeting Indian audience with disinformation, calls for violence, and conspiracy theories about elections.
Full articleSummary: Disney has implemented changes to its Disability Accessibility Service, requiring guests with a developmental disability to book return times for attractions in advance.
Full articleSummary: JPMorgan Chase is set to spend a record $17 billion on technology, focusing on AI, digital banking, and modernization efforts. The bank's investment is poised to transform it into a digital leader, resembling the Nvidia of banking.
Full articleSummary: Ford is expected to unveil a sportier 2025 Maverick model with notable exterior updates, including a revised front end and body-colored accents. The wheels design is reminiscent of a previous concept. The changes suggest a potential new sport model or appearance package for the truck.
Full articleSummary: Broadcom Inc. (AVGO) closed at $1,414.03, marking a +1.34% move from the previous day. The stock outperformed the S&P 500 and has appreciated by 15.82% over the past month. The upcoming earnings release is expected to show positive EPS and revenue growth compared to the previous year. The Zacks Rank system rates it as #3 (Hold) with positive estimate revisions and a Forward P/E ratio discount relative to the industry average.
Full articleSummary: Apple unveiled its latest M4 chip with a launch on the new iPad Pro, leaving Mac fans speculating about when their devices will get an M4 refresh. The much-anticipated M4 Mac makeover is rumored for late 2024, with at least three varieties of the M4 chip expected to be included across the Mac line-up. The AI focus of the M4 generation is anticipated to be showcased at Apple's WWDC in June.
Full articleSummary: Broadcom Inc. (AVGO) stock closed higher, outperforming S&P 500, with upcoming earnings report anticipated to show positive growth in EPS and revenue. Analyst estimate revisions and Zacks Rank indicate potential stock price performance. Current valuation metrics show a discount compared to industry averages.
Full articleSummary: Nike Basketball's Greater Than Series, specifically the Zoom GT Cut, has seen success with lower-budget options like GT Cut Academy and GT Cut Cross.
Full articleSummary: Wells Fargo (WFC) stock reached $60.70, trailing the S&P 500 performance. Analysts expect earnings of $1.25 per share in the forthcoming report, with a Zacks Rank of #2 (Buy). The stock is currently traded at a Forward P/E ratio of 12.2.
Full articleSummary: Citigroup (C) stock experienced a -1.42% movement, outperforming the S&P 500 but underperforming the Nasdaq. Analysts are expecting year-over-year growth in earnings and revenue for Citigroup. The stock holds a Zacks Rank of #3 (Hold) and is currently trading at a discount compared to its industry average P/E and PEG ratios.
Full articleSummary: Pfizer Inc's vaccine for C. diff bacteria infections failed to meet the main goal of a late-stage study, showing efficacy of only 31% after the third dose. However, Pfizer will evaluate next steps as the trial indicated the vaccine helped reduce the severity of infections.
Full articleSummary: Salesforce.com (CRM) stock showed a positive swing in the recent trading session and outperformed the S&P 500. The upcoming earnings report is anticipated to reflect significant growth in EPS and revenue compared to the previous year. Analysts' estimate revisions and Zacks Rank suggest optimism about the company's performance.
Full articleSummary: Nike (NKE) closed at $91.77, marking a -0.44% move from the prior day. Analysts expect Nike to post earnings of $0.86 per share, reflecting a year-over-year growth of 30.3%. Zacks Rank currently holds Nike at #3 (Hold).
Full articleSummary: Tesla Inc. is planning layoffs across multiple states impacting over 7,600 employees including 3,933 from California, with additional layoffs in New York, Nevada, and Texas. A report shows that Tesla's market share dropped to 51.3% in the first quarter of 2024 and U.S. sales were down 13.3% year over year. The layoffs are part of the 10% reduction in the workforce announced by Tesla's CEO Elon Musk.
Full articleSummary: Shares of Comcast Co. (NASDAQ:CMCSA) fell 0.2% on Monday as analyst ratings were mixed with some lowering price targets. Despite a neutral consensus rating, Comcast reported better-than-expected quarterly earnings results. The company also announced a quarterly dividend.
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