Summary: Wells Fargo adjusted Progressive Corp.'s price target to $243 and maintained an Overweight rating due to slower growth period for auto policies. Progressive is projected to add approximately 239,000 personal auto policies in force in May, with premiums expected to increase around 30% year-over-year.
Full articleSummary: Microsoft, Eli Lilly, Costco, and Koss Corporation were featured in Zacks Equity Research's blog with detailed analysis of their recent performances and outlook. Microsoft's third-quarter results were strong, Eli Lilly's revenue growth was driven by increased demand for key drugs, Costco's strategic investments and membership growth led to solid sales, and Koss Corporation faced challenges in a competitive earphone market despite maintaining financial stability.
Full articleSummary: CERT-In has issued a high-severity warning regarding multiple vulnerabilities affecting Apple devices, urging users to update to the latest available versions immediately to mitigate risks. The vulnerabilities can allow attackers to gain unauthorized access, steal sensitive information, bypass security measures, and take control of affected devices.
Full articleSummary: Target, Walmart, and Aldi are cutting prices on popular products to attract more customers amid ongoing financial challenges and inflation concerns.
Full articleSummary: Wall Street is heavily investing in artificial intelligence, particularly in hiring machine-learning engineers and data scientists. JPMorgan Chase, along with other major banks like Citi and Deutsche Bank, are ramping up their AI efforts to reimagine business workflows and enhance various functions from marketing to wealth management.
Full articleSummary: Zacks Research decreased their FY2024 earnings per share estimates for Honeywell International. Honeywell International beat the consensus estimate for its quarterly earnings and had a 2.7% increase in revenue year-over-year. Several analysts have recently issued ratings on the stock.
Full articleSummary: Goldman Sachs analyst reiterated a Buy rating on Salesforce with a $345 price target, highlighting positive outlook on the company's performance, strategic focus on Data Cloud service, and steady revenue growth expectations.
Full articleSummary: Target plans to cut prices on thousands of consumer basics to help customers struggling with inflation. They have already reduced prices on 1,500 items and are focusing on essentials like food, drink, and household goods.
Full articleSummary: State Street, the second-oldest bank in the US, is hiring a leader for its digital assets solutions team. The bank has been making strides in the crypto space through investments and partnerships.
Full articleSummary: JPMorgan Chase's Chief Financial Officer provided insights at the bank's Investor Day event, mentioning the looming headwinds, uncertainties in the consumer sector, increasing technology expenses, and setting aside reserves for peak unemployment and net charge-off rate projections.
Full articleSummary: UBS updates the outlook on Intuit, setting a new price target of $670 and maintaining a neutral rating on the stock ahead of the third-quarter fiscal year 2024 earnings report. The revision is driven by anticipated growth in Consumer revenues with slightly adjusted revenue and earnings estimates. UBS remains cautious due to challenges in the Small Business & Self Employed segments, projecting a lower year-over-year growth aligned with the lower end of the market's expectations.
Full articleSummary: UBS reaffirmed its Neutral rating on Starbucks Corporation, maintaining the company's price target at $85.00. Despite challenges in U.S. sales, management expressed optimism about enhancing sales and margins in the coming years. UBS analysts highlighted the current traffic issues and future strategies of Starbucks.
Full articleSummary: Costco is analyzed to have international growth opportunities, incredible economies of scale advantages, and a robust history of beating the market. The stock has strong ROIC, ROA, and a track record of long-term success. The company's ownership of most properties provides financial stability and operational flexibility, while expanding product offerings and efficient cost structures enhance margins. International expansion, potential membership fee hike, and strong growth prospects contribute to Costco's positive outlook.
Full articleSummary: Brown Advisory Inc. reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 13.8% in the 4th quarter. Other institutional investors also made changes to their positions in the company. United Parcel Service announced dividend with a yield of 4.37%. Wall Street analysts have mixed ratings on UPS stock.
Full articleSummary: Berkshire Hathaway to pay nearly $1 million to settle antitrust law violation with the U.S. government related to its stake in USG, Berkshire admitted mistake, but stated shares were acquired for investment purposes.
Full articleSummary: Nvidia is expected to launch the RTX 5080 GPU, part of the RTX 50 series lineup, with enhanced technologies like GDDR7 memory and ray-tracing, priced around $1,199. The release is anticipated by the end of 2024, following a two-year cycle of GPU launches. The RTX 5080 is rumored to feature improvements in energy efficiency and performance, potentially offering advancements in specs such as a 512-bit memory interface and GDDR7 memory.
Full articleSummary: Three major indexes closed at record highs, Dow Jones Industrial Average hits above 40,000. Investors eagerly await Nvidia's latest quarterly earnings. Gold and Silver are seeing significant gains. Tragic helicopter crash involving Iranian officials raises questions about US-Iran relations.
Full articleSummary: AstraZeneca has been ordered to pay $107.5m to Pfizer for patent infringement related to Tagrisso, with ongoing disputes and trials expected. Separately, Moderna wins a key patent dispute against Pfizer and BioNTech in Europe.
Full articleSummary: Several Wall Street banks provided updates on various stocks with reiterations, initiations, upgrades, and downgrades for companies like Apple, Nvidia, Dell, Amazon, and more.
Full articleSummary: Modders demonstrate significant performance improvements on the Nvidia GeForce RTX 4070 Ti Super by upgrading memory modules and overclocking, outperforming RTX 4080 in some benchmarks.
Full articleSummary: Zacks Equity Research analysts discuss Microsoft Corp., Eli Lilly and Co., Costco Wholesale Corp., and Koss Corp. Recent research reports highlight positive aspects of Microsoft's fiscal performance but warn about cloud competition. Eli Lilly sees revenue growth, while facing headwinds from generic competition and pricing pressure. Costco is praised for its strategic investments and long-term growth prospects, while Koss faces challenges in a competitive market.
Full articleSummary: The Dow Jones Industrial Average dropped while other major indexes rose as Wall Street seeks more record highs. Among the gainers was Nvidia after analysts raised its price target, while Li Auto tumbled due to an earnings miss. The 10-year Treasury yield ticked higher and oil prices dipped. Investors are awaiting the release of Federal Reserve minutes this week.
Full articleSummary: The Dow Jones dropped while other major indexes rose as Wall Street seeks more record highs. Nvidia rallied after price-target hikes, while Li Auto tumbled after an earnings miss. Market saw positive movement with Nasdaq composite up 0.7% in morning action, 10-year Treasury yield ticked higher to 4.45%, and key ETFs QQQ and SPY gaining. Dow reached above 40,000 level for the first time on Friday.
Full articleSummary: Nike is offering a 23% discount on its Air Max 1 Golf Shoes, making them available for just $121.97. These shoes combine streetwear style with on-course performance, featuring iconic four windows revealing large Air units for optimal cushioning and a classic '80s color scheme. They are designed for all weather conditions with water resistance and superior grip on various surfaces.
Full articleSummary: Gilead Sciences presents positive interim data for their primary biliary cholangitis (PBC) drug seladelpar, showing significant efficacy and safety results with the potential to be a best-in-class therapy.
Full articleSummary: Tesla employees are facing uncertainty due to ongoing job cuts under Elon Musk's leadership.
Full articleSummary: Target plans to cut prices on thousands of consumer basics this summer, including food, drink, and essential household goods, in response to inflation impacting household budgets. Target will offer reductions on national brands and private label items through its Dealworthy collection.
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