Summary: Proxy adviser Glass Lewis recommends Hess shareholders vote in favor of Chevron's $53 billion all-stock offer as it provides a reasonable valuation and potential upside. The proposed merger's strategic and financial merits are considered sound and reasonable by Glass Lewis. However, there is uncertainty due to an ongoing arbitration case filed by Exxon Mobil and CNOOC over Hess's stake in the lucrative Stabroek oil field in Guyana.
Full articleSummary: Tech Mahindra is collaborating with IBM to promote scalable adoption of AI across hybrid cloud and on-premises environments. The partnership aims to help organizations responsibly bring efficiency and productivity using the IBM watsonx AI and data platform along with Tech Mahindra's AI offerings.
Full articleSummary: CVS Pharmacy #3794 in Salem, Virginia was fined $75,000 by the Virginia Board of Pharmacy for numerous health and safety violations, including improper COVID-19 vaccine administration and theft of pharmaceutical drugs. The pharmacy was charged with breaching several Virginia laws and regulations, implementing corporate policies that compromised safety and management.
Full articleSummary: A bank customer had $5,000 disappear from his savings account after it was closed by US Bank without explanation, leading to frustration and lack of access to his own money.
Full articleSummary: The food allergy market is expected to reach $2.7bn by 2030, with advancements in treatments for peanut allergies being developed by companies like IgGenix, Intrommune Therapeutics, and DBV Technologies.
Full articleSummary: A regional court ruled in favor of environmentalists opposing Elon Musk's factory expansion, allowing them to keep forest encampment; local officials approved downsized expansion plan; Tesla's extension plan approved by local council after police and company lost legal battle to remove encampment and ban protesters.
Full articleSummary: Palo Alto Networks and IBM are partnering to provide AI-powered security offerings to streamline security operations, stop threats at scale, and accelerate incident remediation.
Full articleSummary: Proxy adviser Glass Lewis advises Hess shareholders to accept Chevron's $53 billion all-stock offer at the oil company's May 28 special meeting, citing reasonable valuation and potential upside. Chevron could walk away without paying any compensation if an arbitration case with Exxon and CNOOC goes against Hess.
Full articleSummary: US lawmakers criticized FDIC chair Martin Gruenberg for agency's failure to handle workplace misconduct issues, including discrimination and sexual harassment. The independent report highlighted a toxic workplace culture at FDIC stemming from a patriarchal and risk-averse environment.
Full articleSummary: Alphabet (GOOGL, GOOG) revealed significant upgrades to its search engine incorporating AI technology at Google I/O 2024 Developers Conference. New features include AI Overviews, video search powered by AI, and advanced generative AI skills for meal and travel planning.
Full articleSummary: Relatlimab by Bristol-Myers Squibb is currently in Phase II clinical development for Metastatic Colorectal Cancer. GlobalData provides information on the drug's phase transition success rate and likelihood of approval compared to indication benchmarks. Bristol-Myers Squibb is a specialty biopharmaceutical company focused on cancer, immunology, cardiovascular, and fibrotic therapeutic projects.
Full articleSummary: 1. Stock market averages opened higher with S&P 500 closing at a record 5,300. Dow Jones touched 40,000. Nasdaq remained relatively flat. 2. Walmart (WMT) shares rose after beating analyst Q1 earnings estimates, raised full-year guidance. 3. Meta (META) under pressure as EU launches investigation into Facebook and Instagram over child safety concerns.
Full articleSummary: McDonald's customers are upset as self-serve drink stations and free refills are being phased out, sparking outrage and disappointment among loyal fans.
Full articleSummary: Exxon Mobil's stock price traded up 0.6% during mid-day trading on Thursday. Analysts have set new price targets for Exxon Mobil stock, with majority of them giving a 'buy' rating and higher price targets. Exxon Mobil announced a quarterly dividend of $0.95 per share.
Full articleSummary: Fiera Capital Corp reduced its holdings in Danaher Co. by 8.7% in the fourth quarter, as reported in its recent disclosure with the SEC. Several other institutional investors also adjusted their stakes in Danaher. Danaher's stock price performance has been positive, reaching $264.84 on Thursday's trading hours. The company also declared a quarterly dividend, with a payout ratio of 18.31%. Analysts have provided mixed ratings on Danaher, with a consensus rating of 'Moderate Buy' and a consensus target price of $267.31.
Full articleSummary: Pfizer is developing Glasdegib for various types of leukemia and glioblastoma. GlobalData provides reports on drug-specific phase transition and likelihood of approval scores for Glasdegib. Pfizer offers a range of biopharmaceutical products for different medical conditions worldwide.
Full articleSummary: Coca-Cola beat analysts' expectations in their second-quarter earnings report, with adjusted earnings per share of $0.63 and revenues of $12.16 billion. Unit case volumes rose 5%, surpassing estimates.
Full articleSummary: Apple users experienced delays and outages with the iMessage application around 5 p.m., with over 13,000 users initially reporting issues.
Full articleSummary: The Dow Jones, S&P 500, and Nasdaq hit new record highs with Dow crossing 40,000 for the first time. Walmart's shares surged after posting quarterly results beating Wall Street estimates, driven by a 21% gain in its e-commerce business. Other trending tickers include BABA, AMD, COST, and CB.
Full articleSummary: FedEx Express, a subsidiary of FedEx Corp., showcased its suite of smart logistics solutions for e-commerce businesses at Seamless Middle East 2024, highlighting FedEx Compatible Solutions, WhatsApp notifications, and Picture Proof of Delivery among its digital services.
Full articleSummary: Union Pacific (UNP), a Transportation stock, has shown a price change of 22.06% this year and offers a dividend yield of 2.09%. The company's current annualized dividend is $3.52, up 15% from last year, and it expects solid earnings growth for the fiscal year. UNP is considered a compelling investment opportunity due to its strong dividend play and Zacks Rank of 3 (Hold).
Full articleSummary: Breed's Hill Capital LLC purchased a new stake in Alphabet Inc. during the fourth quarter. Other large investors also added to their stakes in the company. Alphabet's stock is trading up 1.3% and the company recently announced a quarterly dividend.
Full articleSummary: Q4 results of 116 companies including JSW Steel, Bandhan Bank, Godrej Industries, Pfizer, NHPC, Delhivery, Balkrishna Industries, Balrampur Chini Mills, GlaxoSmithKline Pharmaceuticals, and Zee Entertainment Enterprises to be announced on May 17. Milestone Alert: Livemint is the fastest growing news website globally.
Full articleSummary: Kraft Heinz and General Mills, iconic in consumer staples, facing pressure due to changing eating habits leading to declining sales. Investors no longer view them as recession-proof investments.
Full articleSummary: Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan. due to high debt and slowed production at Boeing, its key customer.
Full articleSummary: Barbara Furlow-Smiles, a former diversity program manager for Facebook and Nike, was sentenced to five years in prison for stealing over $5 million from the companies, setting up fake business deals, invoices, and events to fund her luxury lifestyle. She pleaded guilty to wire fraud and was ordered to pay back the hefty sum.
Full articleSummary: The Venu Sports streaming service, a collaboration between Disney, Fox, and Warner Bros. Discovery, set to launch in the fall featuring live sports content from ESPN.
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