Summary: 1. The Dow Jones closed higher for the fifth week straight, reaching a record 40,000, while the Nasdaq dipped slightly and the S&P 500 held above 5,300. 2. Commodities like Copper and Silver reached new heights due to increasing demand. 3. Boeing's outgoing CEO Dave Calhoun will stay on the board despite facing challenges from fatal crashes and potential DOJ prosecution. Investors should watch for Nvidia earnings and the Federal Reserve's May FOMC minutes next week.
Full articleSummary: Boeing shareholders vote to keep outgoing CEO Dave Calhoun on the company's board and approve his $32.8 million compensation. The company is seeking a new CEO to address challenges from previous incidents. Boeing is also facing potential prosecution from the Justice Department for violating an agreement related to the 737 MAX crashes.
Full articleSummary: BlackRock Inc.'s Rick Rieder suggests that lowering interest rates could be the most effective way to combat inflation, contrary to popular belief. Some market watchers remain skeptical of this approach, sticking to the traditional theory that raising rates helps control inflation. Bond markets rallied following a report of easing consumer price growth in April, leading to speculation of potential rate cuts by the Federal Reserve later in the year.
Full articleSummary: PT Pertamina Hulu Energi (PHE) signed a Pre-Liminary Agreement with ExxonMobil at the Indonesia Petroleum Association Convention and Exhibition (IPA CONVEX) in Jakarta to enhance its performance and business sustainability.
Full articleSummary: Analysts have shared diverse outlooks on Deere (DE) over the past three months, with ratings ranging from bullish to bearish. The 12-month price targets indicate an average of $442.4, representing an 8.7% increase from the previous average target.
Full articleSummary: Alphabet (NASDAQ: GOOGL) has been a top performer in the stock market, and is poised to continue rewarding shareholders by dominating the ad industry, expanding growth engines like YouTube and Google Cloud, and developing autonomous driving technology through Waymo. Despite its past success, Alphabet's stock is not considered expensive and is projected to continue growing its revenue and earnings per share over the next few years.
Full articleSummary: Nike Sportswear plans to launch the “Be The One” Pack, a new mini-series of classic favorites in Summer 2024, celebrating the 2024 Summer Olympics in Paris with fresh designs.
Full articleSummary: Apple TV, primarily known for streaming, has potential to become a gaming platform with recent App Store rule changes allowing console emulators like RetroArch. Emulators offer better performance on Apple TV compared to Raspberry Pi. Apple TV supports various Bluetooth gamepads and has the added benefit of retaining its streaming capabilities.
Full articleSummary: Nike is set to release the Sabrina 2 sneaker in a new "Cave Purple" colorway, designed for both athletic performance and style.
Full articleSummary: Sony's Ghost of Tsushima PC port encounters rendering issues on Intel's Ark GPUs, specifically with the Alchemist A770 GPU. Other GPUs from AMD and Nvidia perform well in the game. The issues are expected to be fixed with future driver updates.
Full articleSummary: UPS appointed Goldman Sachs to manage pension assets worth US$43.4 billion in the US and Canada, aiming to boost its core business.
Full articleSummary: Apple revealed a range of new accessibility features including Eye Tracking, Music Haptics, Vocal Shortcuts, and Vehicle Motion Cues, specifically designed to help users with physical disabilities. Eye Tracking is powered by artificial intelligence and enables users to control iPads and iPhones using just their eyes.
Full articleSummary: The U.S. FDA has approved Bristol-Myers Squibb's drug, Empliciti, in combination with other drugs for the treatment of multiple myeloma, enhancing survival time for patients. Bristol-Myers is a leading company in developing cancer treatments harnessing the immune system, with products like Opdivo showing strong sales growth.
Full articleSummary: Washington Federal Bank, a subsidiary of WaFd, is selling commercial multi-family real estate loans to Bank of America for $2.9 billion to reduce exposure in a troubled sector. The commercial real estate sector has been challenged by higher borrowing costs and lower occupancy rates, causing concern among investors and regulators.
Full articleSummary: Washington Federal Bank, a subsidiary of WaFd, has agreed to sell commercial multi-family real estate loans to Bank of America for $2.9 billion to reduce its exposure to the troubled commercial real estate sector.
Full articleSummary: Citigroup Inc. announced the redemption of $1.5 billion of its 4.140% Fixed Rate/Floating Rate Notes due 2025 and $500 million of its Floating Rate Notes due 2025 on May 24, 2024. The redemptions are part of Citigroup's liability management strategy to enhance funding and capital structure efficiency.
Full articleSummary: PepsiCo closed slightly lower in the latest trading session but has shown appreciation over the last month. Analysts forecast an upward movement in EPS and revenue for the company. PepsiCo currently holds a Zacks Rank of #2 (Buy) with positive estimate revisions indicating a good outlook for the company.
Full articleSummary: Ohio family's bank account drained of $22,000 despite warning from allegedly Chase, bank refuses to reimburse, similar scams reported across the US
Full articleSummary: A couple was sued by Disney for copyright and trademark infringement related to selling knock-off merchandise, they agreed to a court order to shut down their online stores and pay $100,000 if they infringe again. The case was settled in federal court, but the couple celebrated at another theme park after signing the agreement.
Full articleSummary: The report provides trading plans for IBM divided into longer-term, swing trading, and day trading strategies. It includes buy and short signals with specific entry points, targets, and stop losses. The AI-generated signals suggest both long and short opportunities based on resistance levels.
Full articleSummary: Microsoft plans to offer its cloud computing customers a platform of AMD artificial intelligence chips to compete with Nvidia, as well as launching a preview of new Cobalt 100 custom processors. AMD's clusters of MI300X AI chips will be an alternative to Nvidia's H100 GPUs, and the Cobalt 100 processors offer better performance over processors based on Arm Holdings' technology.
Full articleSummary: Investors are encouraged to focus on well-known companies like Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) that have shown significant growth potential.
Full articleSummary: Starbucks is set to open its first location in North Battleford within The Eagles Landing Development on Red Pheasant Cree Nation’s urban reserve land.
Full articleSummary: Goldman Sachs reaffirmed its Buy rating on Chevron with a price target of $175 due to the anticipated growth in production, free cash flow, and strategic initiatives including Tengizchevroil project and asset sales.
Full articleSummary: Pfizer Inc. (PFE) is facing a challenging year ahead as demand for its COVID-19-related products has deteriorated, leading to a significant drop in sales and earnings. However, there are bullish technical signs indicating a potential rebound in the stock price, along with fundamental catalysts such as the development of non-COVID assets and the acquisition of Seagen to bolster its oncology pipeline.
Full articleSummary: Tech stocks, led by Nvidia, have been lifting market benchmarks to record highs on anticipation of robust first quarter earnings. Nvidia's CEO predicts significant growth in the data-center market, which has driven the stock's rally. Analysts expect Nvidia's profit and revenue to surge, supporting the market's overall bullish sentiment.
Full articleSummary: IBM is seeking graduates with deep technical education and strong people skills to co-create solutions with customers, partners, and colleagues. The role involves utilizing solution-selling techniques to engage decision-makers, managing client relationships, and collaborating with IBM's sales ecosystem. Applicants must have completed tertiary studies by March 2024 or graduated from an Australian or New Zealand University no earlier than 2022, possess excellent communication skills, and preferably have 1-2 years of sales experience.
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