Summary: Tesla is making efforts to repair its damaged reputation among rental giants due to repeated price cuts affecting the value of rental EV fleets. UAW faced a setback in unionizing Mercedes's Alabama assembly plant. Polestar is at risk of being delisted from the U.S. stock market due to failure to meet exchange listing rules.
Full articleSummary: Elon Musk threatens to divert AI and robotic products from Tesla unless he gets 25% control over the company, reincorporation in Texas, and approval of his 2018 compensation package, raising concerns among shareholders.
Full articleSummary: U GRO Capital approved issuance of NCDs and acquisition of MyShubhLife for Rs 45 crore. They also announced an equity capital raise of Rs 1,332 crore through debentures. Board members committed funds towards the raise.
Full articleSummary: Boeing's CST-100 Starliner capsule experiences a delay in launch due to a helium leak in one of the reaction control thrusters. This delay adds to previous setbacks and challenges faced by Boeing in the development of the spacecraft.
Full articleSummary: Target plans to lower regular prices on about 5,000 frequently purchased items with thousands more price cuts planned for this summer, including items like food, beverages, household essentials, health, and beauty products.
Full articleSummary: JPMorgan Chase & Co. (JPM) has raised its full-year guidance for net interest income from $90 billion to $91 billion, hinted at additional stock buybacks, and highlighted the use of AI throughout the company.
Full articleSummary: JPMorgan Chase is training new hires in artificial intelligence, aiming to leverage AI potential for various operations within the bank.
Full articleSummary: MainStreet Investment Advisors LLC reduced its holdings in The Home Depot, Inc. by 5.5% in the last quarter. Meanwhile, other institutional investors like Norges Bank and Jennison Associates LLC have acquired new positions in Home Depot. The company's stock was sold on Monday with a 1.7% ownership by MainStreet Investment Advisors LLC.
Full articleSummary: Apple's COO Jeff Williams visited TSMC to reserve 2-nanometer production capacity for improved performance of M-series chips and AI capabilities. Apple is investing heavily in AI research and development, planning to develop three additional levels of the M4 SoC for increased AI processing power. The move is expected to lead to a surge in TSMC's annual revenue.
Full articleSummary: Warren Buffett emphasizes the importance of long-term investment horizon, using RTX Corp as an example of successful 10-year investment with 6.43% annualized return and 86.51% total return.
Full articleSummary: Nvidia received a $5 million investment from Sega in 1996, which helped the company avoid collapse and laid the foundation for its future success in the hardware industry.
Full articleSummary: Microsoft is set to hold its annual developer conference, Microsoft Build 2024, with a focus on artificial intelligence. Key features include updates on Copilot and its integration with Windows 11, as well as the ChatGPT-powered Bing Chat and potential news on Surface hardware.
Full articleSummary: US national security officials have warned Google, Meta, and other firms about potential tampering risks with undersea internet cables by China-controlled repair ships. Concerns are focused on underwater fiber-optic cables in the Pacific Ocean partially owned by Big Tech firms. State Department has flagged concerns about Chinese-controlled SB Submarine Systems.
Full articleSummary: The utilities sector has seen a significant rally despite previous challenges, with companies such as Vistra Corp., Constellation Energy, and NextEra Energy experiencing substantial growth. Factors driving the rally include shifting narratives, future growth catalysts, and increasing demands for electricity from data centers and AI.
Full articleSummary: The US Air Force did not choose Boeing, Lockheed Martin, or Northrop Grumman for a new drone contract, instead selecting General Atomics and Anduril. The contract, Collaborative Combat Aircraft (CCA), could potentially be a $30 billion program with room to grow in size and value. This news is a significant blow to the three leading defense contractors.
Full articleSummary: WaFd is selling about $2.9 billion worth of commercial multifamily real estate loans to Bank of America with an unpaid principal balance of roughly $3.2 billion. This move reflects a broader trend of banks trimming their commercial real estate exposure due to regulatory pressures.
Full articleSummary: Nvidia may announce a stock split on May 22, following a previous stock split announcement in 2021. The stock has risen significantly, driven by the success of its GPU business, especially in the AI sector.
Full articleSummary: Gilead Sciences announced positive interim late-stage results for Seladelpar in patients with primary biliary cholangitis, showing reduction in pruritus and other liver injury biomarkers.
Full articleSummary: Nvidia may announce a stock split on May 22, similar to the one in July 2021, as its stock price has surged, reaching nearly $1,000, sparking investor expectations. However, the reaction might not mirror the previous upsurge of 30% pre-split.
Full articleSummary: Former executive sentenced to jail for defrauding Facebook and Nike of over $5 million.
Full articleSummary: Penske Entertainment announced a partnership with Cisco to use a wide range of technology solutions across their business, including networking infrastructure, collaboration, wireless, and cloud management. Cisco will be the presenting sponsor of the NTT INDYCAR Series Business Hub and will host tech forums and roundtable events at highlight events throughout the 2024 season.
Full articleSummary: Wells Fargo analyst Michael Turrin maintained a Sell rating on DocuSign (DOCU) with a price target of $48.00, while the analyst consensus is Hold with a price target consensus of $66.77. Corporate insider sentiment is negative on the stock.
Full articleSummary: Delhi high court dismisses tax authorities' appeal against Pepsico India regarding AMP expenses taxation. The court's decision was based on the BLT methodology in transfer pricing.
Full articleSummary: Kraft Heinz (KHC) has been listed as one of the most searched stocks on Zacks.com, with shares returning -4.7% over the past month. The company is expected to post earnings of $0.74 per share for the current quarter, and the Zacks Rank for Kraft Heinz is #3 (Hold). Additionally, the consensus sales estimate for the current quarter points to a year-over-year change of -1.4%.
Full articleSummary: Amgen and AstraZeneca have highlighted the potential of Tezspire (tezepelumab) in chronic obstructive pulmonary disease (COPD) despite the Phase IIb study missing the primary endpoint. A pre-determined subgroup analysis of COPD patients based on eosinophil levels showed significant reductions in exacerbations. Tezspire demonstrated a 48% reduction in severe exacerbations compared to placebo.
Full articleSummary: Brokerage recommendations on NextEra Energy (NEE) suggest it is currently advised to be bought. However, investors should be cautious in relying solely on these recommendations, as they often have a positive bias influenced by the vested interests of brokerage firms. Analysts' overly optimistic ratings do not always align with stock price movements, making it crucial for investors to validate such ratings with their own research or other reliable indicators like Zacks Rank.
Full articleSummary: Microsoft CEO Satya Nadella has transformed the company into the world's most valuable company through technological advancements such as AI, but faces risks with partnerships and AI research departures. His focus on public trust, following past setbacks like the antitrust case, drives his decisions, including recent unbundling of software. Nadella's dedication to maintain the company's role as a force for good and investment in AI while meeting sustainability goals reflect his leadership style.
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