Summary: Stocks like Walmart and Caterpillar trading higher led the Dow, while Chubb and Valero Energy were the biggest gainers in the S&P 500. The Dow, S&P 500, and Nasdaq saw gains for the week, marking their longest winning streak since February. The market has climbed into positive territory for the second quarter despite initial challenges, with optimism fueled by economic growth and decelerating inflation.
Full articleSummary: Rainer Blair, President and CEO of Danaher Corp, sold 9,005 shares at $265 per share in accordance with a pre-arranged trading plan, totaling $2.39 million. The transaction was conducted on May 16, 2024, with Blair retaining 106,990 shares after the sale.
Full articleSummary: The article discusses the financial benefits of upgrading to an Executive membership at Costco, where the 2% cash back can offset the membership costs if annual spending exceeds $3,000. Larger purchases such as furniture or vacations might help surpass the threshold.
Full articleSummary: Danaher Corp's President & CEO sold over $2.3 million worth of company shares.
Full articleSummary: Medtronic's clinical study for its Affera Mapping and Ablation System has met safety and efficacy endpoints, with comparisons to Johnson & Johnson's Thermocool Smarttouch SF radiofrequency ablation catheter. Results presented at the Heart Rhythm Society annual meeting and published in Nature Medicine. Market application filed with the FDA for the Affera Sphere-9 Catheter after receiving European approval in March.
Full articleSummary: AstraZeneca owes Pfizer $107.5 million in damages for infringing on patents related to cancer drugs, specifically Tagrisso violating Wyeth unit's patent rights.
Full articleSummary: AstraZeneca owes Pfizer $107.5 million in damages after a Delaware federal jury found that AstraZeneca's drug Tagrisso violated Pfizer's patents on treating cancer with the drug Nerlynx.
Full articleSummary: Apple has announced new features for users with motion sickness and disabilities on iOS, including Vehicle Motion Cues and eye tracking. These features aim to improve user experience and accessibility for individuals with different needs.
Full articleSummary: Professor Charles Elson sought to file an amicus brief in the lawsuit over Elon Musk's $56 billion compensation plan, Tesla denies the allegations concerning potential conflict issues with its outside counsel, and Elson plans to defend a ruling protecting Tesla as a friend of the court.
Full articleSummary: Slack is under scrutiny for its data usage policy regarding training AI models, causing tension among users and prompting calls for policy clarity and updates.
Full articleSummary: The growing sophistication of deep learning models has led to an exponential increase in the computational resources required to train them within a reasonable timeframe. To address this increase, customers have turned to multi-GPU implementations, leveraging NVIDIA's NVSwitch and NVLink technologies for a unified memory fabric, enabling all GPUs to be used as a single, high-performance pool.
Full articleSummary: Apple users who owned iPhone 7 or iPhone 7 Plus between Sept. 16, 2016, and Jan. 3, 2023, and complained about audio issues could receive a payout of up to $349 if paid for repairs, or up to $125 if didn't pay for repairs. Apple has agreed to pay $35 million as a settlement in a class-action lawsuit over alleged audio issues.
Full articleSummary: The Dow Jones Industrial Average hit an intraday high of 40,051.05 but may face short-lived momentum according to Dow theory signals, which show lack of confirmation from the transportation benchmarks. The Transportation index has not made a fresh record since Nov. 2, 2021, and recent economic data points like ISM manufacturing, homebuilding, and inflation metrics are causing concern for the market.
Full articleSummary: Alphabet's dominance in the tech industry, diversified growth engines, and reasonable valuation indicate favorable long-term prospects.
Full articleSummary: Addison Capital Co acquired a new position in Union Pacific Co. during the 4th quarter, multiple other hedge funds also bought shares. Union Pacific's stock traded down on Friday. The company recently announced its quarterly earnings with a positive surprise. The firm also declared a quarterly dividend. Several research analyst reports on UNP were released.
Full articleSummary: Pfizer and BioNTech filed a countersuit against Moderna alleging the invalidity of Moderna's patent for messenger RNA technology. Moderna, in response, announced that the European Patent Office upheld the validity of one of its key patents in the ongoing dispute. Moderna's stock remained largely unchanged on Friday, rising by 0.17 percent.
Full articleSummary: Lockheed Martin has been awarded a $756 million contract by the U.S. Army to deliver additional capability for the Long Range Hypersonic Weapon system, introducing a new class of ultrafast and maneuverable long-range hypersonic missiles.
Full articleSummary: Zacks Research analysts lowered their Q2 2024 earnings estimates for Honeywell International, while the company also announced a quarterly dividend. Insider selling activity was reported. Institutional investors have been modifying their holdings of the stock.
Full articleSummary: Tesla plans to lay off 378 employees at its Fremont, California, facilities and 233 at its Palo Alto offices over a 14-day period starting June 20, amidst struggles with sales, declining stock price, and quality issues with the Cybertruck.
Full articleSummary: AI stocks saw a significant surge this past week due to impactful announcements by major companies like OpenAI and Google, leading to increased interest and investment in companies with AI exposure.
Full articleSummary: PayPal Holdings, Inc. (PYPL) stock was up 0.8% on Friday after several equities analysts provided mixed price target adjustments, with an average rating of 'Hold' and a consensus target price of $72.73. PayPal last released its quarterly earnings data on April 30th, reporting $1.08 EPS, missing the consensus estimate of $1.22. The company had revenue of $7.70 billion during the quarter.
Full articleSummary: Salesforce, Inc.'s stock price was up 0.5% on Friday. Several research firms have reiterated a buy rating and given price targets ranging from $265.00 to $345.00. Salesforce announced a quarterly dividend of $0.40 per share, yielding 0.56%. Insider transactions and institutional inflows indicate continued confidence in the company.
Full articleSummary: Google announced new APIs allowing app developers to incorporate Google Home-compatible devices into their apps, turning more devices into smart home hubs, potentially hinting at a renewed focus on smart home functionality. The company's decision to decouple the Pixel Tablet from its dock raises questions amid this new investment in smart home technology.
Full articleSummary: Comcast Corporation has secured an $11.8 billion unsecured revolving credit facility to bolster its corporate financial strategy, offering flexibility to increase commitments up to $14.8 billion and extend its expiry to May 2031.
Full articleSummary: BlackRock (BLK) shareholders make key decisions affecting governance and executive compensation at Annual Meeting.
Full articleSummary: Google Pixel 8a is praised for its affordability and innovative software features, such as Google's AI tools and seven years of Android updates. The phone is recommended for Android enthusiasts and those interested in Google's latest technology. It is compared to competitors like Samsung's Galaxy S23 FE and OnePlus 12R, offering value for the price range.
Full articleSummary: Microsoft researchers warn of a financially-motivated hacker misusing Quick Assist tool in social-engineering attacks leading to deployment of Black Basta ransomware.
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