Summary: Lowe's (LOW) is expected to post a 5.46% drop in revenue, with same store sales estimated to drop 5.64% year over year. Analysts believe consumers are cutting back visits and spending less, reflecting negatively on foot traffic and average ticket size. Adjusted earnings per share are expected at $2.95 compared to $3.67 from a year ago.
Full articleSummary: University of Cincinnati and GE Foundation collaborate to introduce engineering to high-school students through GE Next Engineers program, with 45 local graduates and about 40% accepted to UC's College of Engineering and Applied Science.
Full articleSummary: Google CEO Sundar Pichai discussed the implementation of AI in search results, addressing concerns from publishers about potential impact on web traffic. Pichai remains optimistic about AI's effect on user engagement and traffic growth. Website owners and SEO professionals should monitor analytics closely to assess real-world impact.
Full articleSummary: Nvidia is preparing to report its first-quarter 2024 earnings with high expectations following its remarkable first-quarter 2023 results. The company's AI-driven gains are now expected to impact sectors beyond chipmaking, such as power, commodities, and utilities.
Full articleSummary: Long-term inflation expectations among Americans remain close to pre-pandemic levels, Federal Reserve's commitment to bring it down to target, Bank of America expects federal funds rate cut in December, housing sector expected to remain strong.
Full articleSummary: Cactus Plant Flea Market (CPFM) collaborates with Nike on a quirky new release of Air Force 1 sneakers featuring puff-printed phrases and unique details.
Full articleSummary: Booking Holdings CEO Glenn Fogel and CFO Ewout Steenbergen discuss the company's strong 1Q results and its focus on global leisure travel, alternative accommodations, and the Connected Trip. They highlight the importance of long-term growth, the use of Generative AI for personalized services, and the Genius loyalty program for both travelers and suppliers. The company is optimistic about future margins, expecting operating leverage from scale and efficiency gains from AI.
Full articleSummary: Google's new parent company, Alphabet's website www.abc.xyz was blocked in China less than 24 hours after going live, despite the site containing only a letter from co-founder Larry Page and a link to Google's investor relations page.
Full articleSummary: ExxonMobil and NBA Africa launched a new Jr. NBA league in Luanda, Angola with 40 boys' and girls' teams for youth ages 16 and under, aiming to reach over 10,000 participants through basketball clinics, competitions, and STEM sessions.
Full articleSummary: Microsoft announces major changes for Windows and Surface lineup at Build developer conference, but confirms no Windows 12 update for now. Updates for Windows 11 focus on AI inference, Arm systems support, and new components, with stricter system requirements compared to Windows 10.
Full articleSummary: Microsoft is launching Copilot+ PC initiative at new Surface and Build developer conference, requiring specific hardware including 16GB RAM, 256GB storage, and 40 TOPS NPU; Intel and AMD chips fall short on NPU performance, NPUs to be used for AI-accelerated workloads like Recall feature for AI suggestions locally on device.
Full articleSummary: Microsoft unveiled a new class of AI-imbued personal computers featuring AI assistant Copilot fused into Windows operating system for PCs, with enhanced features like Windows Recall providing 'photographic memory' of users' virtual activity.
Full articleSummary: ExxonMobil and NBA Africa have launched a new Jr. NBA league in Luanda, Angola, aiming to reach over 10,000 youth participants this year through various programs including basketball clinics, competitions, and STEM sessions. The league will also feature all-girls basketball clinics as part of the NBA's Her Time to Play initiative. This initiative is in collaboration with nonprofit organization PanAfricare.
Full articleSummary: A maximum-severity bug in Intel's artificial intelligence model compression software can allow hackers to execute arbitrary code on the company's systems. Intel released a fix for the Neural Compressor flaw, rated 10 on the CVSS scale. The bug affects versions before 2.5.0.
Full articleSummary: D.E. Shaw & Co. will abstain from voting on Chevron's $53 billion acquisition of Hess, supporting a motion to delay the vote amid arbitration with Exxon Mobil. This uncertainty adds a potential roadblock to Chevron's biggest deal in two decades.
Full articleSummary: Melius Research and Jim Cramer believe Apple's integration of AI into the iPhone will be beneficial for investors, with the upcoming WWDC expected to unveil more about the AI strategy, potentially leading to an upgrade cycle for the iPhone.
Full articleSummary: Amgen and AstraZeneca announced results of Phase 2a COURSE trial showing activity of Tezspire in severe COPD with various baseline blood eosinophil counts and improvements in lung function and quality of life.
Full articleSummary: Microsoft unveiled a new feature called Rewind at its Build 2024 conference, aiming to make local Windows PC searches as quick and effective as web searches, utilizing AI to retrieve virtually anything seen on the PC.
Full articleSummary: Target is lowering prices on about 5,000 'frequently shopped' items at its stores and online, with more reductions expected over the summer, including household staples items. The company aims to help consumers save money amid high inflation.
Full articleSummary: Salesforce CEO Marc Benioff sold over $4 million worth of company stock in multiple transactions under a pre-arranged trading plan. Despite the sales, Benioff still retains a substantial amount of Salesforce stock through various entities. Insider sales can offer insights but may also be for personal financial management reasons.
Full articleSummary: JPMorgan Chase & Co. declared a quarterly dividend on their common stock. The Firm is a leading financial services firm with $4.1 trillion in assets and $337 billion in stockholders' equity as of March 31, 2024.
Full articleSummary: Dow Jones futures and major indices were little changed ahead of the stock market open. Artificial intelligence stock Palo Alto Networks plunged more than 9% on earnings, while Nvidia earnings and Federal Reserve minutes are due later this week. Other key earnings movers include Zoom Video Communications. Current economic reports include existing-home and new-home sales, and PMI data. JPMorgan Chase, Merck, Apple, and Microsoft are among notable stocks.
Full articleSummary: Dow expects to improve pre-tax earnings by more than $3 billion per year by the end of the decade through projects like a low-carbon petrochemical project in Canada and plastics recycling initiatives. Despite overcapacity and sluggish demand in the chemical industry, CEO Fitterling remains optimistic about the company's prospects, with a focus on low costs and investments in expansions and capacity upgrades. Analysts point out that Dow's potential upside depends on market conditions and the timing of demand recovery.
Full articleSummary: John Deere will invest $70 million to build a new factory in Kernersville, N.C. for excavator production, creating 150 new jobs.
Full articleSummary: Honeywell Intl (NASDAQ:HON) has outperformed the market over the past 20 years by 1.66% on an annualized basis producing an average annual return of 9.7%. Currently, Honeywell Intl has a market capitalization of $133.38 billion.
Full articleSummary: Microsoft announced new computers with built-in artificial intelligence technology to make AI tools run faster directly on their devices, gaining a potential edge over competitors like Apple.
Full articleSummary: Raytheon Technologies Corp. and Lockheed Martin Corp's joint venture, Javelin, secured a $311.2 million contract for the full-rate production of Javelin missiles from the U.S. Army. The global missiles and missile defense systems market is estimated to grow at a CAGR of more than 8% during 2022-2031, indicating solid growth opportunities for prominent missile manufacturers.
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