Summary: Wells Fargo adjusts Array Technologies' financial outlook, lowering price target and revising revenue and EBITDA estimates for 2024 and 2025 due to concerns over solar industry challenges and potential delays in projects.
Full articleSummary: Boeing shareholders voted for CEO Dave Calhoun to remain on the company's board despite a crisis that unfolded under his watch. They also approved a nearly $33 million executive pay package for Calhoun, and the Justice Department is investigating Boeing for a fuselage section blowout.
Full articleSummary: Moderna wins case at European Patent Office against Pfizer and BioNTech over COVID-19 vaccine patent dispute.
Full articleSummary: Major indexes were mixed with Dow Jones hitting 40,000 for the first time while Fed Chair Powell tested positive for Covid 19. Nvidia fell as AMD got a deal with Microsoft. Market had lower volume compared to Thursday, with S&P 500 down 0.1% and Nasdaq 0.2% lower. Gold stocks rallied with Newmont (NEM) up 2%.
Full articleSummary: OpenAI's 'superalignment team' has been dissolved after several researchers, including Ilya Sutskever, left the company due to disagreements over priorities and resource allocation. This comes after a governance crisis in November which resulted in the departure of some board members and analysts.
Full articleSummary: Amgen's tarlatamab (Imdelltra) received accelerated approval from the FDA for advanced small cell lung cancer, offering potential annual sales opportunity of over $2 billion. Amgen plans to complete a larger trial for full FDA approval, and is also exploring its use in treating earlier-stage small cell lung cancer.
Full articleSummary: The Department of Justice made a damning argument in its anti-trust case against Google, focusing on Google's market share, how it was gained, and the benefits it obtained from its dominance.
Full articleSummary: IBM products are accused of infringing patents related to GPS information for content delivery to mobile devices, according to a complaint filed in federal court.
Full articleSummary: Oracle's educational initiative, Oracle Next Education (ONE) Program, is expanding to offer training in programming, AI, and soft skills to 20,000+ individuals in Latin America. The program now includes AI education with over 80 hours of content and uses the AI platform Luri for learning support. Graduates gain access to further training and a community with 200+ hours of content.
Full articleSummary: Boeing holds its annual shareholders meeting in a virtual setting, expected to focus on efforts to improve quality and safety following recent incidents. Shareholders expressing disappointment and pushing for changes in company strategy and management.
Full articleSummary: Tech Mahindra collaborates with IBM to accelerate the adoption of generative artificial intelligence (GenAI) globally. They will integrate Tech Mahindra's suite of AI offerings with IBM watsonx platform to bring new GenAI and governance capabilities to enterprises.
Full articleSummary: A 25-year-old Bank of America credit trader passed away suddenly during a soccer game at an industry event. This comes shortly after another young employee's death in the firm's Wall Street divisions, sparking discussions about the demanding culture in investment banking.
Full articleSummary: Moderna wins key patent dispute with Pfizer-BioNTech over COVID-19 vaccine technology in Europe, Pfizer considering legal options and potential appeal decision.
Full articleSummary: The video discusses updates impacting Nvidia and mentions that it was not included in the 10 best stocks identified by The Motley Fool Stock Advisor team. The video also highlights the success of the stocks recommended by The Stock Advisor service.
Full articleSummary: Lockheed Martin Corp. has secured a $221.2 million modification contract from Army Contracting Command, Redstone Arsenal, AL, for Multiple Launch Rocket System (MLRS) requirements. The demand for missile capabilities has been increasing, driving significant order inflow for Lockheed and other defense contractors. Global peace index reflects unstable environment worldwide, leading to rising demand for military products, particularly missiles.
Full articleSummary: Ford is asking suppliers to help cut costs in its electric vehicle efforts to achieve profitability. The company is looking to reduce its planned $10 billion expenditure for its EV unit to $8-9 billion, and is seeking cheaper parts to improve margins.
Full articleSummary: MotorTrend revealed that Tesla's promotional video showing Cybertruck beating a Porsche 911 in a race was rigged, with the 911 consistently outpacing the towing Cybertruck.
Full articleSummary: A brand-new neighborhood called RiverSound is being developed on the former Napa Pipe complex, with Napa's first Costco store under construction as well. The residential development includes more than 900 houses, parks, and stores, with Costco set to open in October.
Full articleSummary: Judge Rosenberg's ruling in the federal court system excludes all Zantac cancer lawsuits plaintiffs' expert witnesses, impacting pending lawsuits in federal court but not in Illinois, Delaware, and other state courts. Pfizer agrees to Zantac settlement payouts totaling between $200-250 million for about 10,000 former users, with average payout per claim expected between $20,000 and $25,000. Over 70,000 claims remain unresolved, mostly in Delaware state court.
Full articleSummary: Pima Federal Credit Union in Tucson plans to acquire Republic Bank of Arizona in Phoenix in a deal expected to close in the second half of this year, adding to the trend of credit union-bank mergers. The acquisition will expand Pima's branch network and offerings, allowing for growth and strategic market expansion.
Full articleSummary: Wells Fargo's short percent of float has risen by 19.35% since the last report, indicating an increase in short interest. Despite this, the company still has less short interest compared to most of its peers. Short interest can serve as an indicator of market sentiment towards a stock.
Full articleSummary: Philip Morris International (PMI) reports a 27.9% cumulative decline in combustible tobacco products, with an estimated 33 million adult smokers switching to less harmful alternatives compared to conventional cigarettes. PMI's smoke-free products are available in 84 markets globally, representing a 15% growth in one year.
Full articleSummary: SoundHound AI has shown a roller-coaster ride in the stock market, with shares going up and down due to various factors such as earnings results and new partnerships. Despite facing challenges, the company reported an impressive revenue growth of 73% year over year in the first quarter and increased its full-year revenue guidance.
Full articleSummary: Microsoft is adding a 'Health Check' option to its PC Manager utility that restores Bing as the default search engine if changed, which has received mixed feedback.
Full articleSummary: Ubuntu is planning to make the Ubuntu Wayland session default for NVIDIA graphics card users in Ubuntu 24.10, as NVIDIA has improved its support for Wayland over the past few years.
Full articleSummary: Boeing holds its annual shareholder meeting virtually with a focus on quality and safety improvements amid ongoing public, regulatory, and market scrutiny. Shareholders express disappointment and push for more accountability and focus on factory floor operations. Boeing faces potential criminal prosecution over 737 MAX crashes, with federal prosecutors questioning if the company has held up its end of the deal with the Department of Justice.
Full articleSummary: PepsiCo partners with Ducks Unlimited Canada to offer financial incentives for producers who grow oats or canola and plant perennial forage on unproductive cropland, supporting sustainable agricultural practices.
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