Summary: Spirit AeroSystems will lay off 400-450 hourly employees due to slowing 737 shipset production to meet Boeing's requirements and lower 787 production.
Full articleSummary: Wells Fargo analyst maintained a Buy rating on Howmet Aerospace and set a price target of $88.00. The company's shares closed at $82.53. Analyst consensus is a Strong Buy with an average price target of $83.56. Truist Financial also maintained a Buy rating on the stock with a $88.00 price target.
Full articleSummary: Wells Fargo analyst Matthew Akers maintained a Buy rating on Howmet Aerospace (HWM) with a price target of $88.00. Truist Financial also maintained a Buy rating on the stock with a $88.00 price target. Company reported positive quarterly earnings with increased revenue and net profit compared to the previous year.
Full articleSummary: JP Morgan Investing offers low-fee trades for self-directed brokerage accounts, provides professional wealth management services, but lacks cryptocurrency trading and is discontinuing robo-advisor investment option by Q2 2024.
Full articleSummary: NVIDIA's vice president for healthcare discussed the impact of AI on drug discovery at STAT Breakthrough Summit in San Francisco.
Full articleSummary: PF-08046040, a monoclonal antibody developed by Pfizer for Myelodysplastic Syndrome and acute myeloid leukemia, is currently in Phase I with a 76% phase transition success rate benchmark for progression to Phase II. GlobalData offers a report comparing PF-08046040's drug-specific PTSR and Likelihood of Approval scores to indication benchmarks, based on historical drug development data.
Full articleSummary: Investors are focused on Nvidia's Blackwell chip lineup launch and the prospect of an 'air pocket' impacting demand. Concerns about potential 'air pocket' ahead of Blackwell launch could lead to short-term volatility for Nvidia shares. Analysts anticipate another beat-and-raise quarter from Nvidia due to high demand for AI accelerators and the ramp of the GB200 NVL products.
Full articleSummary: Robinhood (HOOD) shares are trading higher after receiving a double upgrade from Bank of America, now with a Buy rating and a $24 price target. Analysts highlight increasing retail engagement, accelerating organic growth, and major expense reductions as catalysts for the company's positive outlook. Robinhood also reported significant cryptocurrency gains in its latest earnings report.
Full articleSummary: Nvidia is preparing to launch its most powerful chip yet, with expectations of continued growth in AI and data center business. The company's earnings have been exceptionally strong, surpassing estimates and showing significant revenue and net income growth. While facing competition, Nvidia's first-to-market advantage and reputation for performance and innovation are likely to help maintain its market dominance.
Full articleSummary: Chevron's proposed acquisition of Hess Corporation has encountered significant turbulence due to legal disputes, shareholder advisory disagreements, and uncertainty surrounding ExxonMobil's claims, leading to conflicting stances by investor advisories and political/regulatory hurdles.
Full articleSummary: Honeywell stock was valued at $169.95 five years ago and reached $206.62 at the end of the day on 16.05.2024, resulting in a 21.58% increase in value. Honeywell recently had a market capitalization of $133.50 billion.
Full articleSummary: The Salem CVS Pharmacy in Virginia has been fined $75,000 and placed on probation due to numerous violations found by the Virginia Department of Health Professions (DHP) during an investigation. These violations include improper administration of vaccines, drug diversion, prescription errors, lack of proper inventory management, and pharmacy operations issues.
Full articleSummary: Target has faced backlash for deciding to no longer sell commemorative Pride merchandise in all stores, with LGBTQ leaders questioning the company's values and inclusivity efforts. Despite offering all Pride products online, the move could alienate LGBTQ customers and impact sales.
Full articleSummary: Microsoft plans to include this year's Call of Duty in Xbox Game Pass for the first time, marking a new milestone for the franchise. The move is seen as a strategic decision to drive more subscriptions to the service while impacting traditional sales revenue.
Full articleSummary: Washington Federal Bank will sell a $2.9 billion portfolio of commercial multi-family real estate loans to Bank of America to reduce exposure to a troubled sector.
Full articleSummary: Pfizer Inc. has a consensus 'buy' rating from 22 analysts with a mean target price of $29.11, indicating a potential upside of 1.0%. The company's market capitalization is $163.88B with a stock price of $28.92 USD. The company is a research-based biopharmaceutical company engaged in developing and distributing biopharmaceutical products worldwide.
Full articleSummary: Analysts provided updates on Allstate, JPMorgan Chase & Co., and Charles Schwab in the Financial sector.
Full articleSummary: Analysts weigh in on Allstate, JPMorgan Chase & Co., and Charles Schwab in the Financial sector with price targets and ratings.
Full articleSummary: FDA approved Amgen's new treatment Imdelttra for small cell lung cancer, tripling life expectancy to 14 months with 40% response rate but with a serious side effect of cytokine release syndrome. Novo Nordisk facing potential delay in increasing production capacity of weight loss drug Wegovy and diabetes drug Ozempic due to fire at Danish manufacturing hub.
Full articleSummary: Washington Federal Bank has agreed to sell a portfolio of commercial multi-family real estate loans to Bank of America for approximately $2.9 billion, in efforts to reduce exposure to the troubled sector.
Full articleSummary: Philip Morris International (PIM) has launched the Malawi Entrepreneur Mechanism Initiative to support tobacco farmers with tractors on loan to encourage sustainable tobacco growth and economic growth in Malawi.
Full articleSummary: CEOs are facing challenges in workforce, culture, and governance as they try to implement and scale generative AI quickly. CEOs are hiring for new generative AI roles, planning to retrain current workforce, and acknowledging the importance of cultural change and collaboration for success. CEOs see benefits in rapid technology adoption but struggle with governance and potential risks.
Full articleSummary: BlackRock's COO revealed that a strategy memo written by AI (ChatGPT) was indistinguishable from a human-written one, showcasing the company's bullish stance on AI's potential. This news reflects the growing trend of AI integration in the financial sector.
Full articleSummary: Honeywell launches a public tender offer for Civitanavi Systems, valuing the company at around 200 million euros. The offer will be open from May 27 to July 19, with the last day to accept being August 2 if the offer reopens for five days. Honeywell has obtained the commitment of the controlling shareholder of Civitanavi Systems to participate in the offer.
Full articleSummary: The FDA approved Amgen's bispecific T-cell engager tarlatamab (branded as Imdelltra) for the treatment of extensive-stage small lung cancer. The approval was based on treatment response and duration of response data, with a requirement to conduct a Phase III confirmatory trial.
Full articleSummary: Jim Cramer listed ten stocks that contributed to the Dow Jones Industrial Average reaching a new high of 40,000, emphasizing the importance of focusing on company management and mission for long-term success.
Full articleSummary: Deere reported Q2 fiscal 2024 results with revenues and earnings exceeding street estimates, but provided a bleak outlook resulting in a 5% stock fall. Despite this, DE stock is deemed fully priced. Deere's stock performance over recent years has been volatile, underperforming the S&P in 2023. The company's revenue declined 15% y-o-y in Q2, and it anticipates a sales decline in all manufacturing segments for 2024 due to elevated interest rates and falling commodity prices.
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