Summary: Bristol Myers Squibb (BMS) announced FDA approval of lisocabtagene maraleucel (liso-cel, Breyanzi) for adults with previously treated, relapsed/refractory follicular lymphoma. BMS also announced that a phase III trial in unresectable lung cancer showed no improvement in progression-free survival with nivolumab (Opdivo) plus concurrent chemoradiation (CCRT) followed by nivolumab and ipilimumab (Yervoy) versus CCRT and durvalumab (Imfinzi).
Full articleSummary: Dow Jones average rises above 40,000 for the first time in history, bringing optimism about the economy
Full articleSummary: Apple's future growth prospects are limited due to declining iPhone sales, soft demand in China, and reliance on hardware sales for its services division. Wall Street estimates project a compound annual revenue growth rate of under 5% between fiscal 2023 and fiscal 2026. The stock trades at a price-to-earnings ratio of 29, indicating limited potential for strong investment results.
Full articleSummary: BlackRock (BLK) retains its $7.3 billion investment contract with the Oklahoma Public Employees Retirement System (Opers) after a state judge's decision to pause the enforcement of an anti-ESG law. The law targeted firms, including BlackRock, allegedly boycotting the fossil fuel industry.
Full articleSummary: Broadcom Inc. AVGO shares are trading lower after unveiling its Accelerate Program through exclusive agreements expanding the Broadcom Global Cybersecurity Aggregator Program to offer improved service levels for a wider array of Broadcom software solutions worldwide.
Full articleSummary: EU regulators have opened investigations into Meta for the potentially addictive effects Instagram and Facebook have on children, with potential fines up to 6% of its global revenue. This reflects a broader global effort to regulate social media services to protect minors.
Full articleSummary: Salesforce stock price fell 0.2% after insiders sold shares, analysts forecast moderate buy rating with price target of $310.61, company announced quarterly dividend and institutional investors modified their holdings
Full articleSummary: Renewable power market is expected to scale new heights from 2024 to 2030 due to focus on innovations and increasing consumption of renewable energy worldwide. Major players like SunPower, First Solar, and BrightSource Energy are leading the market with technological advancements and government support. GE Energy Financial Services recently acquired a wind farm to deliver reliable renewable energy in India, showcasing the industry's growth potential.
Full articleSummary: The European Commission is investigating Meta, the owner of Facebook and Instagram, for potential breaches of the Digital Services Act related to the protection of minors online.
Full articleSummary: Shares of Direxion Daily Global Clean Energy Bull 2X Shares (KLNE) rose 0.4% during trading on Thursday. The stock had a slight increase in price and trading volume.
Full articleSummary: International Assets Investment Management LLC increased its position in Medtronic plc by 2.5% in the 4th quarter, with several other hedge funds also buying and selling shares recently. Wall Street analysts forecast growth for Medtronic with a consensus rating of 'Hold' and an average price target of $94.91. Additionally, insider buying and selling activities were reported at Medtronic.
Full articleSummary: Wall Street witnesses a new big bull as inflation resumes a downward trend, leading to hopes of interest rate cuts by the Fed in September 2024. Amid cooling inflation, stocks hit record highs, making technology stocks like Alphabet, Datadog, Garmin, Salesforce, and CrowdStrike appealing for investors.
Full articleSummary: Dow Jones Industrial Average reached 40,000 for the first time following optimism around artificial intelligence boosting corporate profits and Federal Reserve potentially cutting rates.
Full articleSummary: Principal Securities Inc. bought a new position in MetLife, Inc. in the 4th quarter, adding 4,361 shares valued at approximately $288,000. Several other hedge funds also recently increased their stakes in MET. Analyst ratings have been mixed but mostly favorable. MetLife reported Q1 earnings meeting the consensus estimate and raised its dividend, alongside announcing a $3.00 billion share buyback plan. Insiders have recently sold shares of the company.
Full articleSummary: A study found that Reno, Nevada has one of the worst-rated McDonald's stores in the U.S. and the world based on Google Maps reviews. The analysis ranked Reno as the fifth-worst city in the U.S. and the sixth-worst city globally for McDonald's stores.
Full articleSummary: McDonald's introduces a new limited-edition McFlurry called 'Grandma McFlurry' in honor of grandmothers, featuring candy pieces and syrup mixed with vanilla soft serve. The company aims to create a nostalgic experience for customers while expanding their menu offerings.
Full articleSummary: Google rolled out a retooled search engine favoring AI-generated responses over website links, potentially disrupting internet traffic flow. The AI overviews will start appearing in the US and should be part of search results for about one billion people by year-end. This move emphasizes more growth and innovation but poses risks to Google's ad revenue and website publishers.
Full articleSummary: D.E. Shaw & Co. plans to abstain from voting on Hess Corp.'s takeover by Chevron Corp. due to uncertainty around an arbitration case. This decision follows Institutional Shareholder Services Inc.'s recommendation to delay the vote.
Full articleSummary: Investment Committee provides top stocks to watch for the second half including Alphabet, Honeywell, Prudential, and Hercules Capital.
Full articleSummary: The Investment Committee recommends watching Alphabet, Honeywell, Prudential, and Hercules Capital as top stocks for the second half.
Full articleSummary: BMO Capital analyst maintained a positive outlook on Amgen shares following the approval of Imdelltra for treating small cell lung cancer, reiterating an Outperform rating with a price target of $355.00. The drug's approval is seen as significant in the treatment of a condition with few effective options, despite the inclusion of some warnings on its label.
Full articleSummary: Apple may start production of iPhone 16 display in June, upcoming iPhone lineup rumored to have new features like bigger displays, 3nm chipset, improved cameras, and higher price
Full articleSummary: Google asks for a judge, rather than a jury, to decide whether it violated U.S. antitrust laws related to online advertising. Google contends that a damages claim was added at the last minute solely to seek a jury trial and has paid an amount exceeding possible damages claimed by the government.
Full articleSummary: Weibo plans to use Intel Lunar Lake CPUs in its first-ever handheld gaming PC, the GP10, which features high-end internals and an 11-inch display. Lunar Lake is Intel's next-generation mobile CPU architecture set to consume 40% less power than Meteor Lake, with a new design that includes LPDDR5X embedded right on the CPU for improved memory performance and efficiency.
Full articleSummary: The Dow Jones hit 40,000 for the first time in history with Goldman Sachs and Caterpillar largely boosting the record, adding 880 points to the rally this year. Apple alone has accounted for over 3,000 of the index's jump since 2017.
Full articleSummary: FedEx to aggressively pursue changes in its network as it loses U.S. Postal Service air cargo contract. However, company will continue daytime operation but will rationalize the network.
Full articleSummary: Google Fiber (GFiber) plans to expand its fiber network to the City of Las Vegas, Nevada, aiming to provide Internet speeds of up to 8Gbps. The company is awaiting approval from the Las Vegas City Council and expects to start construction early next year.
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