Summary: BMO Capital reaffirmed a positive stance on Amgen shares after updated Phase 2a COURSE data for tezepelumab showed significant reductions in exacerbations for patients with high eosinophil counts, potentially challenging Dupixent. Amgen's upcoming Phase 3 studies and expansion of research with tezepelumab could enhance its position in the respiratory treatment space. Market attention is focused on the competition in treatments for high eosinophil counts.
Full articleSummary: Stock market had a positive week as GovCon Index and major indices like Dow Jones, Nasdaq, and S&P 500 all posted gains. Mercury Systems (MRCY) was the top gainer on the GovCon Index for the week, while AeroVironment (AVAV) remains the top performer in 2024.
Full articleSummary: IBM secures a potential $279 million contract from the Department of Homeland Security to develop and maintain software systems for the Verification Information System, including support for various programs related to immigration verification processes.
Full articleSummary: Google is offering discounts and incentives to persuade corporate and government customers to switch from Microsoft Office to Google Workspace, highlighting Microsoft's cybersecurity failures.
Full articleSummary: Intel has released a new graphics driver (31.0.101.5522) for its Arc graphics cards, adding support for Senua's Saga: Hellblade II and Ubisoft's XDefiant while improving Starfield performance. However, the release notes highlight some outstanding Known Issues.
Full articleSummary: Washington Federal Bank is selling 2,000 multifamily loans to Bank of America for about $2.9 billion to scale down its exposure to the commercial real estate sector, and Bank of America plans to enter a structured transaction with Pacific Investment Management.
Full articleSummary: Ford is adjusting its EV strategy in Europe due to slowing market demand and financial losses, retracting its goal to sell only EVs in Europe by 2030 and considering demand, which is seen as good news for investors.
Full articleSummary: Ieq Capital LLC reduced its stake in BlackRock Credit Allocation Income Trust by 20.3% during the fourth quarter, other institutional investors and hedge funds have also bought and sold shares of the stock. The firm announced a monthly dividend to be paid in May.
Full articleSummary: Home Depot is implementing computer vision technology at self-checkouts to reduce theft. The company's poor sales in the first quarter are partially attributed to weather conditions. The retail industry is focusing on anti-theft measures to protect inventory and enhance financial performance.
Full articleSummary: Walt Disney World has implemented a new Disability Access Service (DAS) aimed at addressing the misuse of the service by narrowing eligibility, extending enrollment period, and reducing party size. Registration for DAS must now be done via live video chat only, eliminating in-person registration at the parks.
Full articleSummary: China places Boeing's Defence, Space & Security unit, General Atomics Aeronautical Systems, and General Dynamics Land Systems on an 'unreliable entities' list due to weapons sales to Taiwan. Taiwan's new president aims to strengthen security through imports of advanced fighters.
Full articleSummary: Apple has released the new M4 SoC which offers impressive CPU and GPU performance gains while maintaining lower power consumption, positioning it as the fastest and most efficient single-core processor on the market that can be passively cooled. This places Apple ahead of competitors like AMD, Intel, and Qualcomm.
Full articleSummary: Costco Next, a shopping portal for Costco members, offers discounts on popular and niche brands, helping members save money which exceeds the annual membership fee. Costco Next functions as a standalone shopping platform, but customers must interact directly with the retailer for purchases, returns, and customer service.
Full articleSummary: Avantax Advisory Services Inc. increased its position in Coca-Cola FEMSA, S.A.B. de C.V. by 5.7% in the fourth quarter, other hedge funds also recently bought shares of the company. Coca-Cola FEMSA announced a dividend of $0.81 per share, representing a yield of 0.84%. Equities research analysts have issued positive ratings and price targets on Coca-Cola FEMSA stock.
Full articleSummary: BlackRock announced increased distribution rates for certain municipal closed-end funds reflecting distribution increases, with BlackRock MuniYield Pennsylvania Quality Fund (MPA) and BlackRock California Municipal Income Trust (BFZ) showing distribution rate hikes for June 2024.
Full articleSummary: BlackRock announced a management fee waiver for certain closed-end funds effective May 1, 2024, to increase tax-exempt income to shareholders. The waiver includes waiving an additional one-time $2 million in management/advisory fees pro-rata across the funds.
Full articleSummary: The United States Air Force awarded a contract to General Atomics and Anduril for their Collaborative Combat Aircraft (CCA) program worth potentially $30 billion, causing Boeing, Lockheed Martin, and Northrop Grumman to lose at least $30 billion in potential revenues. This decision positions General Atomics and Anduril to build prototypes and potentially further benefit from the program, while the three publicly traded defense contractors could still have opportunities as subcontractors in the future.
Full articleSummary: Zacks Research analysts raised their FY2024 EPS estimate for Alphabet, projecting earnings of $7.31 per share, up from prior estimate of $6.43. Several research firms have also increased target prices and ratings for Alphabet. Insider activity includes CEO Sundar Pichai selling shares. Alphabet announced a quarterly dividend of $0.20 per share.
Full articleSummary: The Milken Institute’s finance-focused Global Conference featured discussions on sports ownership, future business opportunities in sports investment, and developments in sports streaming platforms. Companies like Atlanta Braves, Comcast, Fox, and TKO Group Holdings shared insights and financial updates.
Full articleSummary: SK Keyfoundry has agreed to supply power semiconductors for Tesla vehicles starting from the second half of 2024, aiming to help automakers compete against China's dominance in the electric vehicle segment. The company has developed a new 0.13㎛ BCD process for automotive power semiconductors and will begin producing its chips for Tesla BEVs at its facility in Cheongju.
Full articleSummary: Apple has launched an aggressive discounting campaign on its official Tmall site in China to defend its position in the high-end smartphone market against local rivals such as Huawei. The discounts are up to R5,800 and are more substantial than previous campaigns, with various iPhone models seeing significant price cuts. This move follows increased competitive pressure from Huawei, which recently introduced its Pura 70 series.
Full articleSummary: Berkshire Hathaway acquired around 26 million shares of Chubb worth $6.7 billion, causing Chubb's stock to surge nearly 8%. The move emphasizes Buffett's focus on the insurance sector and financial investments.
Full articleSummary: BlackRock announced increased distribution rates for certain closed-end funds with monthly returns, adjusting the annual distribution rates of ECAT and BCAT to 20% and BMEZ, BSTZ, BIGZ to 12%. The Board of Trustees aims to enhance returns for shareholders through managed distribution plans.
Full articleSummary: Target Corporation announced lower everyday prices on 5,000 items like food, beverages, and household essentials to help consumers save millions of dollars this summer.
Full articleSummary: Telefónica Tech partners with Microsoft to enhance cybersecurity services for global enterprises, integrating advanced security and AI solutions to improve incident response capabilities and automate security processes. The collaboration aims to provide customers with proactive, integrated, and real-time security management.
Full articleSummary: Victory Capital Management Inc. increased its stake in Kohl’s Co. by 8.3% in the 4th quarter, as per the recent filing with the Securities and Exchange Commission. Other institutional investors also made changes to their positions in the stock. Kohl’s stock was up by 1.8%. The company announced a quarterly dividend of $0.50 per share with an annualized yield of 7.77%. Several analysts provided target prices and ratings for KSS shares.
Full articleSummary: Lockheed Martin has secured a $756 million contract from the U.S. Army to produce additional battery equipment for a ground-based hypersonic strike weapon system.
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