Summary: Eli Lilly and Co raises annual revenue and profit forecasts after strong first-quarter sales of diabetes drug Mounjaro, plans to seek FDA approval for obesity treatment, expects regulatory action by late 2023.
Full articleSummary: Several companies have emerged as leaders in the renewable energy sector, with a focus on wind, solar, and hydroelectric power, making substantial contributions to the global energy landscape.
Full articleSummary: Polygon launched a new game on Google Play and Apple Store, strengthening their technology adoption. BlackRock made significant investments in Bitcoin market. Raboo is in phase 3 of its presale with a unique offering, attracting investors.
Full articleSummary: Lockheed Martin Corporation is a global aerospace and defense company with a diverse range of products and services, serving government organizations primarily. Their net sales come from aeronautic systems, helicopters, mission systems, aerospace systems, and air defense systems. They also provide support services for mission operations and technical support. Their net sales are mainly from the United States, with a presence in Europe, Asia/Pacific, the Middle East, and other regions.
Full articleSummary: Palo Alto Networks and IBM have partnered to enhance cybersecurity solutions by integrating AI-powered threat protection capabilities. The deal involves Palo Alto Networks acquiring IBM's QRadar SaaS assets to strengthen its Cortex XSIAM platform.
Full articleSummary: Bank of America initiated coverage on shares of SharkNinja (NYSE:SN) with a buy rating and a $90.00 price target. Several other firms also issued buy ratings with increased price targets. SharkNinja reported earnings above analyst estimates and is expected to post 3.82 EPS for the current year.
Full articleSummary: Microsoft Build 2024 is set to start with a focus on AI, including updates on Windows Copilot. The conference will feature keynote speeches, educational sessions, and over 480 sessions across three days.
Full articleSummary: FORD Australia has partnered with Evie Networks to offer a home charger option for BEVs and PHEVs like the Mustang Mach-E and Escape PHEV. The package includes a 7.4kW single-phase charger, installation, and $400 worth of public charging on Evie's network.
Full articleSummary: Three senators call for increased oversight in the annual renegotiation of the VA's contract with Oracle Health due to errors impacting veteran care. Despite some progress, concerns persist over Oracle Health's delivery and the need for more accountability measures in the contract.
Full articleSummary: PayPal Holdings, Inc. (PYPL) has underperformed the broader market over the last year due to competition in the digital payments space and inflationary pressures. However, the company reported strong Q1 earnings with customer spending remaining resilient and cost cutbacks improving profitability. Analysts expect PYPL to report EPS growth of 9.3% year over year for the current fiscal year, with a consensus rating of 'Moderate Buy.'
Full articleSummary: Bank Leumi (TASE: LUMI) will release its First Quarter 2024 Financial Results on May 28, 2024, followed by a conference call for analysts and investors hosted by top executives.
Full articleSummary: McDonald's to launch a new budget-friendly 'mix and match' menu offering three popular items for £3 for a limited time in the UK.
Full articleSummary: Broadcom Limited is one of the companies bidding for Toshiba’s NAND memory-chip unit with a $23 billion offer, partnered with private-equity firm Silver Lake and Japanese banks. Despite the bid, Broadcom stock decreased by 4%. Western Digital, Toshiba's partner, is against Broadcom's bid and seeks exclusive negotiations. Investors are cautious about Broadcom's ability to secure the deal, although the company has an impressive growth track record and dividends.
Full articleSummary: Cornerstone Advisors LLC reduced its position in Bank of America Co. by 11.6% during the 4th quarter. Several other institutional investors also made changes to their positions in the company. Bank of America (NYSE:BAC) announced a 0.2% stock increase, reported its earnings results, declared a quarterly dividend, and received various ratings from research firms.
Full articleSummary: Apple could be using a stainless steel battery case for the iPhone 16 Pro Max as a thermal solution, potentially expanding to the iPhone 17 lineup. The new design aims for durability, easier battery removal, compliance with EU regulations, and improved thermal performance.
Full articleSummary: Loomis, Sayles & Co increased their position in Tesla by over 41% as they believe the company's shares are undervalued, citing its competitive advantages and potential in the EV market. Despite increased competition, they expect Tesla to maintain a 20% market share with high operating margins and growth opportunities in software sales, particularly in full self-driving technology.
Full articleSummary: Bank of America Corporation has ceased to be a substantial shareholder in Hydration Pharmaceuticals Co. Ltd. as of May 16, 2024, marking a significant shift in the company's shareholder structure.
Full articleSummary: Global share prices are on an upward trend at the start of the week, with Dow Jones closing above 40,000 for the first time ever. While gold price continues to reach record highs, FOMC minutes and UK inflation data will be key economic releases to watch, as they may impact major central banks’ policy stances and financial markets.
Full articleSummary: Tokyo stocks rose, with the Nikkei Stock Average ending up 0.73%, led by oil, coal, mining, and nonferrous metal issues. Some gains were erased due to fears of rising borrowing costs after Japan's benchmark bond yield reached its highest level in 11 years. The market awaits earnings by U.S. chip giant Nvidia Corp.
Full articleSummary: Tesla is working to address issues faced by European leasing companies due to retail price cuts, slow service, and expensive repairs, causing a decline in Tesla's resale values and tensions with fleet customers. As Chinese EV makers like BYD offer competition, Tesla is offering unofficial discounts and solutions to appease leasing firms.
Full articleSummary: General Atomics and Anduril beat out major defense contractors to win a contract with the U.S. Air Force to build drones, potentially costing Boeing, Lockheed Martin, and Northrop Grumman $30 billion in lost revenues. The program could grow to as much as $180 billion over time.
Full articleSummary: The United States Air Force has chosen privately held companies General Atomics and Anduril instead of Boeing, Lockheed Martin, and Northrop Grumman for its Collaborative Combat Aircraft (CCA) program, causing at least $30 billion in lost potential revenues for the three leading defense contractors.
Full articleSummary: Google, also known as Alphabet Inc., has been facing generative AI threat from OpenAI and Microsoft that could potentially challenge its dominance in the search market. Despite concerns, Google remains a leading investor in AI technologies and is adapting its search experience to incorporate generative AI tools for growth. The company's revenue from search and cloud segments is showing strong performance, with a focus on leveraging AI products to continue driving growth. Google's stock, though no longer offering a deep discount, is still considered cheap compared to other tech stocks, presenting a promising investment opportunity.
Full articleSummary: McDonald's Australia is launching a new collaboration with Yu-Gi-Oh! and Hello Kitty and Friends for Happy Meal toys, featuring limited-edition plush toys like Hello Kitty Dark Magician and Cinnamoroll Blue-Eyes White Dragon. The collaboration will be available in McDonald's stores starting Thursday, 16 May for a limited time.
Full articleSummary: The overall market sentiment showed improvement with U.S. stocks settling higher, including the Dow Jones surpassing 40,000 and recording its fifth consecutive weekly gain. The Fear and Greed index remained in the 'Greed' zone. GameStop Corp (GME) shares fell around 20% after releasing preliminary first-quarter results.
Full articleSummary: LG Electronics has terminated its partnership with Meta regarding the development of Extended Reality (XR) devices due to disagreements and lack of significant synergies. LG is now searching for a new partner, with Amazon being a potential candidate. The XR device market is expected to expand significantly in the coming years.
Full articleSummary: LG Electronics and Meta's partnership for an extended reality device seems to have fallen through due to lukewarm outlook for the XR market, leading to LG requesting to end the collaboration.
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