Summary: Warren Buffett's Berkshire Hathaway has disclosed its 'secret' buy over the past few quarters was Chubb Limited (NYSE: CB), citing a favorable environment for insurers, Chubb's fit with Buffett's premium brand philosophy, and the possibility of Berkshire buying the entire company.
Full articleSummary: The European Patent Office ruled in favor of Moderna in its patent dispute with Pfizer and BioNTech over its COVID-19 vaccine, giving Moderna a victory in the ongoing legal battle. Both Pfizer and BioNTech have two months to appeal the decision.
Full articleSummary: Medtronic announced positive results from the SPHERE Per-AF trial, showcasing the efficacy and safety of the Affera Mapping and Ablation System with Sphere-9 Catheter for treating persistent atrial fibrillation (AFib). The trial met its primary safety and efficacy endpoints, demonstrating potential for this advanced catheter system.
Full articleSummary: Medtronic announced new data from the SMART Trial, showing the Evolut self-expanding valve (SEV) was associated with significantly less bioprosthetic valve dysfunction and improved quality of life in women with severe aortic stenosis.
Full articleSummary: Atlanta Fed President Raphael Bostic stated that the U.S. economy is slowing down gradually, which should help cool inflation, with executives noting weakening pricing power. He maintains his forecast of one rate cut this year, likely in the October-December quarter.
Full articleSummary: Medtronic plc announced positive results from the SPHERE Per-AF study demonstrating excellent safety and efficacy of the Affera Mapping and Ablation System with Sphere-9 Catheter for the treatment of persistent atrial fibrillation. The results were presented at the Heart Rhythm Society 2024 Annual Meeting and published in Nature Medicine.
Full articleSummary: Reports suggest LG either heavily delayed or canceled the high-end headset it was working on with Meta, Seoul Economic Daily reports the headset is delayed to 2027 and LG has ended the partnership with Meta altogether, LG believes there isn't enough 'synergy' with Meta and is talking to other US tech companies for a new partnership.
Full articleSummary: Jefferies maintained a Buy rating and a price target of $915.00 for Eli Lilly despite positive data from Amgen's drug AMG 133 for obesity treatment. Jefferies highlighted Eli Lilly's competitive position in the market and confidence in its ability to maintain its edge in the pharmaceutical industry.
Full articleSummary: Meta (owner of Facebook and Instagram) approved AI-manipulated political adverts during India's election that spread disinformation and incited violence, with known slurs towards Muslims and false claims about opposition leaders, despite their pledge to prevent such content. Meta's systems failed to detect all approved adverts featured AI-manipulated images, and the company profited from hate speech according to a campaigner. The approved adverts largely targeted Muslims and violated Meta's own policies on hate speech and violence.
Full articleSummary: Lowe's reports Q1 earnings and revenue results with same-store sales decline expected, similar to Home Depot. LOW stock gained ground prior to the release.
Full articleSummary: Lowe's reports lower revenue and earnings for first quarter, with same-store sales expected to decline for the sixth consecutive quarter. LOW stock edged lower ahead of the earnings release.
Full articleSummary: Lowe's (LOW) is set to report earnings with analysts expecting a 5.6% decline in revenue YoY. The majority of analysts are maintaining their estimates, despite Lowe's missing revenue expectations multiple times in the past. Peers in the home furnishing and improvement sector have reported mixed revenue results.
Full articleSummary: MetLife launches My Leave Navigator to support employees navigating leave, a new holistic digital experience to improve employee experience from pre-leave planning to claim submission and beyond.
Full articleSummary: Barclays maintains its Overweight rating on FedEx shares with a price target of $350.00, emphasizing the company's efforts to reduce costs despite challenges like losing a contract with USPS. The firm remains confident in FedEx's ability to achieve EPS growth targets amid low market valuation.
Full articleSummary: Oracle plans to integrate AI features into its database software to enhance its cloud-computing platform's appeal, aiming to compete with leading cloud providers like Amazon and Microsoft by leveraging its database technology. The company is intensifying efforts to expand its cloud business by integrating AI functionalities, forging strategic partnerships, and expanding data center capacity.
Full articleSummary: U.S. stock index futures edged higher on Monday as investors await Nvidia’s quarterly results and the Federal Reserve’s policy meeting minutes. Key indexes hit all-time highs last week following upbeat corporate earnings and softer inflation data. Paramount Global and Johnson Controls International saw premarket gains after reports of potential bids and activist investor interest.
Full articleSummary: JPMorgan Chase raises its forecast for net interest income in 2024 due to expectations of slower rate cuts by the Federal Reserve, benefiting from elevated interest rates and decreased customer demand for loans.
Full articleSummary: Philip Morris International Inc. (NYSE:PM) share price is up 20% in the last three years but down 7.0% in the last year, underperforming the market return. The total shareholder return (TSR) for the last 3 years was 40%, exceeding the share price return. Long term shareholders have made money with a gain of 8% per year over half a decade.
Full articleSummary: Zacks Research increased FY2024 earnings estimates for Alphabet, with higher expected EPS for the years 2025 and 2026. Various analysts have issued 'buy' ratings and boosted target prices for GOOG stock. CEO Sundar Pichai and other insiders have recently sold significant amounts of shares. Alphabet also declared a dividend.
Full articleSummary: Pfizer's Wyeth unit entitled to receive $107.5 million in damages from AstraZeneca after a Delaware federal jury found that AstraZeneca's cancer drug Tagrisso violated patent protections.
Full articleSummary: Target has announced a plan to lower everyday prices on 5,000 products, with red tags for visibility, including meat, dairy, fruits, vegetables, paper towels, diapers, and pet food. The retailer has already implemented price reductions on 1,500 products and plans more cuts throughout 2024. Target is also offering discounts coinciding with Memorial Day, the Fourth of July, and back-to-school season. The pricing strategy aims to assist budget-conscious consumers and enhance competitiveness in the US retail market.
Full articleSummary: MetLife introduces My Leave Navigator, a new digital solution to help employees plan time away due to a disability or event, providing intuitive guidance and support throughout the leave process.
Full articleSummary: Lockheed Martin successfully launched a PAC-3 Missile Segment Enhancement interceptor to engage a cruise missile target in flight, showcasing its commitment to developing integrated technology for defense systems.
Full articleSummary: Salesforce and Mastercard have announced a new integration between Financial Services Cloud and Mastercard's dispute resolution services to streamline dispute management and chargeback prevention. Mastercard's evolution into a financial services provider includes five broad product categories such as consulting, insights and analytics, marketing services, loyalty, and data services.
Full articleSummary: Nvidia CEO Jensen Huang reported $4 billion more in revenue than expected, showcasing the company's growth and potential in generative AI and accelerated computing.
Full articleSummary: MetLife announced My Leave Navigator, a new digital offering to support employees planning time away from work due to a disability or event, providing intuitive guidance and boosting confidence. The offering helps individuals focus on life moments without worrying about the claims process, offering pre-leave planning, intuitive intake experience, and access to resources.
Full articleSummary: RBA Wealth Management LLC increased its stake in Alphabet, Inc. (GOOGL) by 0.4% in the 4th quarter, becoming the 4th largest holding. Other hedge funds have also added to their positions in GOOGL. Analysts forecast growth with a number of rating upgrades on the stock.
Full article