Summary: JPMorgan Chase & Co.'s asset management arm has launched a new European money market fund focused on government or sovereign-backed securities due to increased demand from investors looking for safe public sector assets amidst concerns of bank debt risks. This move comes amidst growing interest in money markets following rate hikes by central banks.
Full articleSummary: BVNK has integrated the stablecoin PayPal USD (PYUSD) on its payments platform, allowing businesses to access PYUSD alongside other popular digital currencies and fiat currencies. PYUSD is fully backed by US dollar deposits and can be redeemed 1:1 for US dollars.
Full articleSummary: International Assets Investment Management LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 58.2% during the 4th quarter, according to its most recent 13F filing. Several other institutional investors also made adjustments to their positions in the company. Insiders at General Dynamics have been actively selling shares, with CEO Phebe N. Novakovic and VP Mark Lagrand Burns among those involved. GD stock rose 0.4% and hit a new high. The aerospace company recently missed earnings estimates, but analysts are generally positive about its stock, with a consensus "Moderate Buy" rating and a target price of $300.53.
Full articleSummary: General Dynamics Co. VP William A. Moss sold 21,050 shares of the stock, valued at $6,206,592.50. The company has also increased its quarterly dividend. Several research firms have issued ratings and price targets for General Dynamics. Hedge funds have been modifying their holdings of the stock.
Full articleSummary: GE Aviation (NYSE: GE) stock price has soared over 55% this year and hit a record high, backed by strong performance in the civil aviation industry and the company's transition to an aircraft-focused organization. Concerns arise over the stock being fairly overvalued with a forward P/E ratio higher than the S&P 500 multiple.
Full articleSummary: Several companies including Colgate Palmolive, SBI, Trent, Tata Consumer Products, Bharat Dynamics are set to trade ex-date next week starting May 20 with dividends, bonus shares, and stock splits being announced by different companies.
Full articleSummary: Nvidia has purchased its Santa Clara headquarters complex for $374M, including eight buildings, two parking structures and 2M SF of future development rights.
Full articleSummary: Tesla is facing challenges with a sales decline and projected lower unit growth, leading to concerns about its future performance. Meanwhile, Netflix is thriving with impressive revenue gains, subscriber growth, and rising operating margins, positioning it as a strong alternative investment option.
Full articleSummary: Berkshire Hathaway disclosed its collective cost basis in Apple, Chevron, Coca-Cola, American Express, and Occidental Petroleum is around $63 billion. Warren Buffett has spent over $77 billion alone buying shares of Berkshire Hathaway, his favorite stock. He has been actively repurchasing Berkshire's shares for the past six years.
Full articleSummary: Berkshire Hathaway, led by Warren Buffett, has significant investments in Apple, Chevron, Coca-Cola, American Express, and Occidental Petroleum, with a collective cost basis of around $63 billion. Buffett has spent over $77 billion buying shares of his favorite stock, which doesn't show up in Berkshire's quarterly 13Fs. He has been actively repurchasing Berkshire's stock since July 2018.
Full articleSummary: Intuit has announced they are looking for an Engineering Manager to work with a team of software engineers and analysts in developing machine learning capabilities for Intuit Mailchimp.
Full articleSummary: AWS announced that Matt Garman, an 18-year veteran, will be taking over as CEO on June 13th, following Adam Selipsky's resignation. Garman, who has a history of working at AWS across various roles, has been praised by Amazon CEO Andy Jassy for his customer focus, product leadership, and senior leadership experience. Garman has also been involved in pushing the 'One Team' concept within AWS.
Full articleSummary: Chevron Corp. received a nod of support from Glass Lewis & Co. for its $53 billion deal to buy Hess Corp.
Full articleSummary: Honda Motor signed a preliminary agreement with IBM Corporation to collaborate on the development of next generation computing technology for software-defined vehicles (SDV) of the future, focusing on semiconductor technology and hardware-software co-optimization.
Full articleSummary: PepsiCo is making a significant investment of over 200 million euros to increase production at its Belgian plant in Veurne, which will create 150 new jobs. The investment aims to enhance sustainability and expand production capacity by a third to 115,000 tonnes per year.
Full articleSummary: Salesforce and Mastercard are partnering to integrate Salesforce’s Financial Services Cloud (FSC) with Mastercard's dispute resolution services to streamline the management of transaction data, disputes, and chargebacks in the payments industry.
Full articleSummary: Bristol Myers Squibb (BMS) released positive four-year data from the POETYK PSO long-term extension (LTE) trial of Sotyktu in treating moderate-to-severe plaque psoriasis, showing sustained efficacy and a consistent safety profile of the drug. The Psoriasis Area and Severity Index (PASI) 75 and 90 response rates were 71.7% and 47.5%, respectively.
Full articleSummary: Amgen has obtained FDA approval for its bispecific T-cell engager drug, tarlatamab, under the trade name Imdelltra for the treatment of advanced small cell lung cancer (SCLC). The drug showed positive results in a phase 2 study, although there are safety concerns associated with its use. Amgen aims to expand its BiTE drug portfolio with this approval.
Full articleSummary: Colgate reported positive growth in net sales, quarterly net profit, EBITDA, and EPS in March 2024 compared to March 2023. Additionally, Colgate shares have shown strong positive returns over the last 6 and 12 months.
Full articleSummary: Boeing is testing a variety of eco-friendly cabin technologies on its ecoDemonstrator programme to increase operational efficiency and sustainability. The company plans to test these technologies on a 777-200ER, with projects focusing on airport operations, noise reduction, waste-reducing materials, cabin insulation, and future cabin concepts.
Full articleSummary: Bristol Myers Squibb revealed positive four-year data from the POETYK PSO LTE trial of Sotyktu in treating plaque psoriasis, with high response rates and consistent safety profile. The company's immunology executive highlighted the potential of Sotyktu as an oral standard of care.
Full articleSummary: Google has released Chrome 125 with security patches including a zero-day exploit called CVE-2024-4947, affecting individual user data and causing browser crashes. Microsoft's Edge browser is also affected. Users are advised to update Chrome immediately.
Full articleSummary: Home Depot stock (NYSE: HD) is considered a better pick over Procter & Gamble stock (NYSE: PG) due to its better prospects. Home Depot has fared better than PG in terms of stock performance, though both companies have seen similar revenue growth. P&G is more profitable and offers lower financial risk, but Home Depot is preferred for investment based on valuation multiples and return expectations.
Full articleSummary: Lockheed Martin Corporation has been selected by the Missile Defense Agency to deliver the Next Generation Interceptor (NGI), leading to market growth in the defense sector. The NGI program aims to enhance homeland security by providing advanced missile defense systems to protect against long-range ballistic missile threats within the Ground-based Midcourse Defense (GMD) system.
Full articleSummary: Comcast's shares are up 5% as the media giant exceeded revenue expectations for the fourth quarter. Net income rose over 7% YoY. The company added around 3 million subscribers to its streaming platform Peacock, a 50% YoY gain.
Full articleSummary: FedEx is downsizing by moving its supply chain division office from one building in Cranberry Township to another smaller office space nearby.
Full articleSummary: Pembina Pipeline Corp Pref Class A (PPL-PR-A.TO) experienced a 1.47% price increase from the previous day's close. The TSX Composite closed slightly up at 0.07%, while the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite closed higher. Trading volume for Pembina Pipeline Corp Pref Class A was 2,756 shares on 10 total trades.
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