Summary: GameStop (GME) shares are sliding further as the meme stock trade wanes, with the retailer filing to sell 45 million additional shares. Wall Street Journal speculates Call of Duty on Game Pass could impact sales for GameStop significantly.
Full articleSummary: Federal Reserve and OCC to hold public meeting to collect stakeholder feedback on proposed Capital One-Discover merger. Critics express concerns about competition in credit card marketplace while supporters believe it would enhance competition with Visa and Mastercard. Meeting scheduled for July 19.
Full articleSummary: Honeywell International Inc. introduced a new NEP technology to improve olefin production efficiency and lower CO2 emissions, aligning with energy transition megatrends.
Full articleSummary: Under Armour, Inc. (NYSE:UAA) reported a fourth-quarter revenue decline and gave a gloomy guidance which led to a stock downgrade by JP Morgan analyst, but received mixed reactions from other analysts. The company is anticipated to face challenges in the North American market and needs to make aggressive moves to return to a premium apparel brand.
Full articleSummary: Moderna wins a case at the European Patent Office against Pfizer and BioNTech over its COVID-19 vaccine.
Full articleSummary: Broadcom Inc. has announced the expansion of its global software distribution efforts through the Accelerate Program, aimed at improving support and service levels for a wider range of Broadcom software products across various regions. The program includes partnerships with regional distributor partners to provide localized technical support, personalized assistance, and value-added services.
Full articleSummary: Scammers are using a cunning PayPal scheme to trick users into sending them money, prompting a warning from a consumer protection agency.
Full articleSummary: Emerson Electric (NYSE:EMR) was downgraded by StockNews.com from a 'buy' rating to a 'hold' rating. Despite the downgrade, the company recently reported better-than-expected quarterly earnings.
Full articleSummary: Amgen's therapy tarlatamab, marketed as Imdelltra, has received FDA approval for the treatment of ES-SCLC. The therapy activates the patient's own T cells to attack tumor cells expressing DLL3. Accelerated approval was granted based on positive results from a clinical trial, but continued approval may require further confirmation of clinical benefits.
Full articleSummary: European shares are expected to open sluggishly as Federal Reserve officials suggest higher U.S. interest rates for longer, with Asian stocks and oil and gold prices making modest gains. U.S. stocks closed lower due to mixed economic data and a weakening dollar.
Full articleSummary: Microsoft reportedly planning to launch this year's Call of Duty on Xbox Game Pass, potentially affecting sales numbers. The move is a shift from the traditional a la carte selling approach.
Full articleSummary: CNBC reported on the latest news regarding Microsoft's big AI event, focusing on the future of Microsoft's Copilot.
Full articleSummary: Boeing's departing CEO, Dave Calhoun, was re-elected to the troubled company's board while the search for a new chief executive is ongoing. The company is facing investigations, possible prosecution, and a decrease in production of its top-selling jet. Shareholders voted for Calhoun to stay on the board despite recommendations against it.
Full articleSummary: FDA approval of Amgen's new drug, Imdelltra, as a treatment option for extensive-stage small cell lung cancer, offering patients another option after platinum-based chemotherapy. The drug is an immunotherapy that targets DLL3, administered as a bispecific T cell engager to activate the immune system for killing cancer cells. Price per cycle is $31,500 for the first cycle and $31,000 for subsequent cycles, with high expectations for blockbuster potential.
Full articleSummary: Slack has been scraping customer data, including messages and files, without requiring users to opt-in, to develop new AI/ML models. This sparked a privacy backlash and concerns among corporate Slack admins.
Full articleSummary: Starbucks customers can save money by joining the rewards program, using the mobile app for ordering and earning points, getting free coffee refills, bringing their own cup for a discount, enjoying a free birthday drink, linking Delta or Bank of America card for extra rewards, opting for brewed coffee, ordering a 'short' size instead of regular sizes, BOGO cold brew to make two iced lattes, and DIYing coffee to save money.
Full articleSummary: Deep-pocketed investors have taken a bullish approach towards JPMorgan Chase, with significant options activities suggesting a big move might be imminent.
Full articleSummary: Apple reached a $35 million settlement related to audio issues in iPhone 7 or 7 Plus, with a deadline to join approaching.
Full articleSummary: Microsoft avoids UK antitrust probe with Mistral AI partnership. CMA closes the case. CMA looking closely at Big Tech firms' investments in AI startups to prevent competition concerns.
Full articleSummary: Capital Wealth Planning LLC reduced its stake in United Parcel Service by 99.8% during the fourth quarter. Several other institutional investors and hedge funds have also modified their holdings in UPS. Wall Street analysts have provided various ratings and price targets for UPS shares.
Full articleSummary: Intel's (NASDAQ:INTC) stock has experienced a significant selloff this year, with a 36% YTD decline. The company faces intense competition from Nvidia (NVDA) and Advanced Micro Devices (AMD), with declining market positions. Various factors such as weak strategic position, stagnating revenue, and high levels of debt contribute to a 'Strong Sell' sentiment.
Full articleSummary: Tech Mahindra is collaborating with IBM to accelerate the adoption of generative AI by integrating TechM amplifAI0->∞ with IBM watsonx AI and data platform. This collaboration aims to provide new GenAI services, frameworks, and solutions architectures to enterprises to build trustworthy AI models and drive explainability for AI applications.
Full articleSummary: Peso Pluma adds 6 new dates to his 'Éxodo Tour,' including a show at Intuit Dome in Inglewood, California, after successful performances at Coachella and 'The Tonight Show Starring Jimmy Fallon. In 2023, he grossed $74.6 million from 54 sold-out concerts worldwide and won a Grammy Award. His unique sound fuses corridos with pop and trap, and his new LP 'Éxodo' is set to release on June 20.
Full articleSummary: The European Commission has initiated formal proceedings to investigate whether Meta (parent company of Facebook and Instagram) breached the Digital Services Act by potentially exploiting minors' vulnerabilities, not having effective age-verification tools, and lacking appropriate measures for privacy and security of minors. Separate investigations for Facebook and Instagram as distinct platforms are ongoing.
Full articleSummary: Broadcom Inc. announced the Accelerate Program to offer improved service levels for a wider array of software solutions through exclusive agreements with partners. The program covers an extended range of CA Technologies enterprise software, mainframe software, and Symantec cybersecurity solutions in various regions globally.
Full articleSummary: Tesla Model Y units in Germany seen equipped with Hardware 4, Tesla's latest self-driving computer, capable of processing more data for improved self-driving capabilities.
Full articleSummary: Downtown Disney is enhancing its dining experience by introducing fine dining options such as steaks, hand-made dumplings, and gourmet Mexican food from a Michelin-starred chef. Plans also include the opening of a new steakhouse and a Din Tai Fung dumpling house in the near future.
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