Summary: Boeing supplier Spirit AeroSystems is laying off 450 workers due to production slowdown after a panel flew off a 737 Max operated by Alaska Airlines in January. Boeing is in talks to buy Spirit to reverse its strategy of outsourcing key work on its planes.
Full articleSummary: Microsoft started blocking Russian corporate clients from using its cloud services in compliance with Western sanctions. The ban complies with the EU's sanctions package ordering companies to stop exporting products and technology to Russia by March 20.
Full articleSummary: FDA has approved Amgen's Imdelltra (tarlatamab-dlle), a bispecific T-cell engager, for the treatment of adult patients with extensive-stage small cell lung cancer. The drug showed promising results in clinical studies with a median overall survival of 14.3 months and a 40 percent response rate in patients.
Full articleSummary: The digital storage sector is expected to undergo a cyclical recovery following a surge in demand and subsequent decline due to various global events. Citigroup's Asiya Merchant predicts a 25% CAGR growth in the storage media industry over the next 3 years driven by pent-up storage demand led by hyperscalers and AI advancements.
Full articleSummary: Microsoft (MSFT) will begin offering AMD's AI chips to cloud computing customers as an alternative to Nvidia's processors. AMD stock surged by about 3.5% on this news. Microsoft is expected to provide more details at its Build event next week.
Full articleSummary: IBM has been named as one of the AI Ecosystem Top 12 and included in Bob Evans' Cloud Wars Top 10 for its AI and cloud innovation. IBM has been working closely with partners such as Bakstage.AI and QuantumStreet AI to co-create AI-based solutions using watsonx. Key partners have highlighted IBM's resources and tools as critical to driving successful outcomes. Additionally, IBM has built a strong relationship with ServiceNow for their GenAI-powered platform Now Assist.
Full articleSummary: Chevron pulls out of North Sea operations due to the ongoing controversy over the 'windfall' tax on energy companies despite denying it's due to UK tax laws. Other energy companies like Shell, Harbour Energy, and BP have also reduced stakes or exited North Sea drilling. UK Chancellor Jeremy Hunt rejects pleas to pause the windfall tax, impacting investment and development in the oil and gas sector.
Full articleSummary: Amgen's targeted immunotherapy tarlatamab has received accelerated approval from the U.S. health regulator for advanced stages of small cell lung cancer, with peak sales expected to reach approximately $2 billion. Analysts have positive outlooks on the drug's potential as a significant contributor to Amgen's portfolio of cancer drugs in the future.
Full articleSummary: Apple's historical gains have been significant, with shares climbing 38,000% in the past two decades. However, recent performance has been mixed due to declining iPhone sales and soft demand in China. Despite being an elite company, growth prospects seem limited, and the stock's premium valuation may restrict strong investment results.
Full articleSummary: IBM Ireland announced a new investment creating up to 800 high-tech jobs across Ireland, focused on advanced software with artificial intelligence technologies. The investment includes roles in research and development, digital sales, and consulting, across IBM sites in Dublin, Cork, and Waterford.
Full articleSummary: Union Pacific (UNP) closed higher in the latest trading session, outperforming the S&P 500. Analysts project positive earnings and revenue growth for the company in the upcoming period. Recent estimate revisions suggest optimism among analysts about Union Pacific's future performance.
Full articleSummary: Boeing is facing criminal charges over violation of agreement terms related to 737 Max crashes, alongside incidents like door plug blowing out mid-flight and a recent 747-400 engine catching fire shortly after takeoff.
Full articleSummary: Analysts have provided bullish sentiments for Magic (MGIC), Applied Materials (AMAT), and Intuit (INTU) in the Technology sector, with positive price targets and Buy ratings by Tavy Rosner, Mark Lipacis, and Michael Turrin, respectively.
Full articleSummary: Bank of America (BAC) is trading at 1.2 times book value after reporting better-than-expected earnings. Citigroup (C) also posted strong earnings with a 2% revenue increase. CrowdStrike Holdings, Inc. (CRWD) announced an expanded partnership and is seeing record highs. Berkshire Hathaway Inc. (BRK) was picked as a final trade.
Full articleSummary: Deere's fiscal second-quarter results beat expectations, but the company lowered its full-year profit forecast, as farmers buy fewer tractors due to declining crop prices. Revenue fell 12% to $15.24 billion, but adjusted revenue of $13.61 billion surpassed estimates.
Full articleSummary: Emerson Electric Company showing signs of upward momentum after breaking out of a long-term base, traders advised to monitor price action for confirmation.
Full articleSummary: Microsoft is reportedly considering putting more Xbox games onto rival platforms like PlayStation, sparking internal debate on the potential impact on Xbox console sales.
Full articleSummary: WaFd Inc is selling a portfolio of commercial multi-family real estate loans to Bank of America for $2.9 billion.
Full articleSummary: Intel is preparing to remove Xeon Phi support for GCC 15.
Full articleSummary: WaFd Inc has agreed to sell a portfolio of commercial multi-family real estate loans to Bank of America for $2.9 billion.
Full articleSummary: BlackRock COO revealed that a memo on the company's AI strategy was written by ChatGPT and received positive feedback, while some were critical of the tone. BlackRock has been bullish about AI's potential to boost productivity.
Full articleSummary: The total return on 30-year bonds has declined by 45% since April 2020, the worst four-year loss in over 100 years, leading to a big bear market in bonds. Bank of America strategists foresee a reversal of this trend in the second half due to strong nominal GDP growth and other factors.
Full articleSummary: Infinix is set to launch the GT Book laptop in India, featuring a 13th Gen Intel Core i9-13900H processor and an Nvidia GeForce RTX 4060 GPU, and will be priced below Rs. 65,000. The laptop boasts a cyber mecha aesthetic design, customizable RGB LED array, a 16-inch display with 120Hz refresh rate, and various configurations.
Full articleSummary: Boeing shareholders will vote on whether outgoing CEO Dave Calhoun should remain on the board at the annual general meeting. Proxy advisors have recommended voting against his reelection due to dissatisfaction over safety culture efforts. Investors are seeking clarity on future leadership as Calhoun is set to retire by year-end.
Full articleSummary: Cisco is hiring a Senior Software Developer in Bangalore, India, requiring experience in Python, Full-Stack development, Cloud Native Architecture, and Agile/Scrum environment among other qualifications.
Full articleSummary: Microsoft plans to release the 'Call of Duty' videogame to its subscription service instead of selling it separately, following its acquisition of Activision Blizzard.
Full articleSummary: Intel Corp.'s stock has declined sharply due to weak second-quarter guidance, but the company is embarking on a new direction, positioning itself to benefit from the US government's CHIPS Act. Intel's Foundry business segment has huge potential but requires patience and long-term investment horizon. Financials and valuation metrics indicate a challenging period, making the stock more of a turnaround or speculative play.
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