Summary: Equities research analysts at B. Riley lowered their earnings per share estimates for Terran Orbital for Q2 2024. The company also reported lower than expected earnings per share for Q1 2024, with revenue below analyst estimates. Multiple analysts have different ratings on the stock, resulting in a consensus rating of 'Hold' with a target price of $4.07.
Full articleSummary: Warren Buffett and his team at Berkshire Hathaway have built a significant stake in Chubb (NYSE: CB), a Swiss-based property & casualty insurance provider, of more than 25.9 million shares worth $7.1 billion. Despite the mystery unveiling, the more surprising takeaway was the continued net-selling activity by Berkshire, shedding $56.09 billion more in equities than they've purchased over an 18-month period.
Full articleSummary: Big Tech firms, advocacy groups, and other companies have spent over $823,235 lobbying against two New York bills aimed at protecting children online. The spending is expected to surpass $1 million next month. The bills, called the SAFE Act and Child Data Protection Act, aim to regulate social media apps' algorithms and data collection practices for users under 18.
Full articleSummary: The Federal Reserve, FDIC, and OCC are considering a new strategy to reduce the capital requirements for large banks in the country following pressure from industry players like JPMorgan Chase CEO Jamie Dimon. The new plan would lower the capital increase requirements to slightly over 50% of the original amounts for banks such as JPMorgan Chase and Goldman Sachs. However, the establishment of the new capital rules is not yet definitive as officials are still negotiating modifications.
Full articleSummary: Deutsche Bank raises its 2024 year-end S&P 500 target to 5,500, citing strong corporate earnings. Morgan Stanley also predicts S&P 500 hitting 5,400 by June 2025 with better earnings growth in the next two years.
Full articleSummary: Apple remains one of the most influential and appreciated companies globally, touted for its innovative products, strong brand loyalty, and dominant presence in the tech sector. Despite a modest stock performance, analysts like Wamsi Mohan of Bank of America Securities are bullish on Apple's growth prospects, especially following Q2 fiscal 2024 results.
Full articleSummary: Wall St set to rise with Fed minutes and Nvidia results expected this week, Deutsche Bank raises S&P 500 year-end target to 5,500 points, major indexes poised for higher open on Monday.
Full articleSummary: Target has announced dropping prices on 1,500 items and plans to cut prices on around 5,000 items over the summer, affecting name brands and house brands, aiming to save consumers millions on household staples and everyday items. Other major retailers like Ikea and Aldi have been reducing prices to attract consumers amid high inflation. Target's price cuts are also an attempt to turn around sales as retail sales growth has slowed due to high prices. Target will provide an update on sales during the earnings report.
Full articleSummary: Nvidia may provide details about potential growth drivers, including its AI Enterprise service, in the upcoming earnings report. The company's software business has reached a $1 billion run rate and is expected to play a significant role in its future growth.
Full articleSummary: Meridian Wealth Management LLC purchased 1,666 shares of Simon Property Group, Inc. in the 4th quarter. Several other hedge funds also added to their stakes in SPG, and Wall Street analysts have a 'Moderate Buy' rating with an average price target of $141.40. Simon Property Group's stock opened at $148.79 and is trading up 0.1%. The company reported quarterly earnings with $2.25 EPS, slightly missing the consensus estimate.
Full articleSummary: The Dow closed above 40k while the S&P retook 5300. NVDA and AI are in focus for the week with expectations high for NVDA's earnings. Gold surged past $2400 amidst a rate cut narrative gaining traction and escalating tensions in the Middle East. Oil reached $80 once again.
Full articleSummary: Meridian Wealth Management LLC reduced its holdings in BlackRock Enhanced Global Dividend Trust (BOE) by 50.0% during the 4th quarter according to the recent Form 13F filing, while other institutional investors have both bought and sold shares of the company.
Full articleSummary: CVS Health stock presents a value opportunity after Q1 2024 miss and guidance cut, offering attractive forward earnings, dividend yield, and market share. The company, including Aetna, navigates Medicare Advantage growth carefully to maintain profitability despite shedding members. Shares attempt a daily rounding bottom pattern with several support levels identified.
Full articleSummary: Meridian Wealth Management LLC boosted its stake in ConocoPhillips by 9.2% in the fourth quarter, several other institutional investors and hedge funds have also recently modified their holdings of COP. Insider activity includes several recent sales of company stock by senior executives, while analyst upgrades and downgrades include price target increases and positive ratings for the company.
Full articleSummary: Checchi Capital Advisers LLC lifted its stake in shares of Alphabet Inc. during the fourth quarter. The firm now owns 48,300 shares of Alphabet worth $6,747,000. Alphabet announced a quarterly dividend of $0.20 per share, payable on June 17th. Analysts have given Alphabet stock a consensus rating of 'Moderate Buy' with an average price target of $190.60.
Full articleSummary: Synergy SKY integrates its Connect solution with Cisco Webex Control Hub to provide a universal joining solution for meetings across platforms. Cisco reports revenue decline in collaboration meetings and device solutions but sees positive growth in cloud calling and contact centers. Altafiber launches an all-in-one calling, messaging, and meeting solution called 'Business Calling with Webex'.
Full articleSummary: U.S. stock futures edge higher after Dow closes above 40,000 for the first time, Nvidia to report earnings, Fed officials to speak. China keeps loan prime rate unchanged. Crude prices rise amid Iran uncertainty.
Full articleSummary: Tesla is making efforts to address concerns of European leasing companies due to retail price cuts and slow service, offering unofficial discounts on purchases of new cars and focusing on improving service and repair complaints. European fleet companies have faced losses due to sudden drops in Tesla's resale values.
Full articleSummary: Australian designers have created the new Ford Ranger and Raptor Ranger with a rugged and bold design, inspired by American truck heritage, emphasizing utility and toughness. The trucks feature distinctive design elements such as round wheel arch openings, muscular shoulder lines, and a square shape for wider track vehicles.
Full articleSummary: A clash between Greenlight Capital and former employee James Fishback has escalated to lawsuits, with Fishback alleging defamation and Greenlight Capital denying his position as 'head of macro'. The dispute has attracted attention from investors and hedge fund managers, with public exchanges on social media platforms like X (formerly Twitter).
Full articleSummary: The news compares Madison Square Garden Entertainment and Six Flags Entertainment based on profitability, valuation, risk, institutional ownership, earnings, analyst recommendations, and dividends.
Full articleSummary: Target plans to lower prices on at least 5,000 products including food essentials in order to attract budget-stretched customers amid high food prices and borrowing costs. The company is facing stiff competition from Walmart and aims to cut prices on items such as meat, bread, soda, fruits, and vegetables in various markets.
Full articleSummary: AstraZeneca needs to pay $107.5 million in royalty damages for infringing a Pfizer-brand cancer treatment patent with its drug Tagrisso. A final decision is pending after a bench trial on additional defenses. Tagrisso violated two patents related to cancer treatment methods using Nerlynx, marketed by Puma Biotechnology.
Full articleSummary: Nabla Bio has closed a $26 million Series A financing round led by Radical Ventures and formed strategic collaborations with AstraZeneca, Bristol Myers Squibb, and Takeda.
Full articleSummary: Meridian Wealth Management LLC increased its holdings in FedEx, along with other large investors like Vanguard Group Inc., Sentry LLC, FMR LLC, Morgan Stanley, and Invesco Ltd. Institutional investors now own 84.47% of FedEx's stock. FedEx announced a share buyback program of $5.00 billion, indicating that the company's board believes its stock is undervalued. Insiders including Chairman Frederick W. Smith and EVP Tracy B. Brightman have sold large amounts of FedEx stock in recent transactions.
Full articleSummary: Panagora Asset Management Inc. decreased its position in shares of Amgen Inc. by 9.1% in the fourth quarter. Several institutional investors have also made changes to their positions in AMGN. Amgen announced a quarterly dividend of $2.25 per share with an ex-dividend date on May 16th. Analysts have issued various ratings changes on AMGN.
Full articleSummary: Panagora Asset Management Inc. decreased its stake in Honeywell International Inc. by 91.5% during the 4th quarter, while other large investors increased their holdings in the company. Honeywell International reported earnings exceeding analysts' estimates for the quarter, with a return on equity of 35.88% and a net margin of 15.52%. The company also announced a quarterly dividend of $1.08 per share.
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