Summary: Eli Lilly and Totus Medicines have announced a multi-target research collaboration to discover small molecule drug candidates against undisclosed targets. Totus Medicines will utilize its OmniDEL platform to generate high-quality covalent compounds against Lilly's targets. The agreement allows Lilly and Totus the exclusive option to further develop, clinically test, and commercialize the identified compounds with milestone payments.
Full articleSummary: Vanguard, one of the major ETF issuers, is catching up to BlackRock in terms of total assets for U.S. exchange-traded funds. The new CEO, Salim Ramji, comes from BlackRock and is expected to further Vanguard's growth, especially in the active fixed-income ETFs segment. Vanguard's assets under management currently trail behind BlackRock's, despite leading in ETF flows for 2024 so far.
Full articleSummary: Direxion launched thematic funds for bullish or bear bets on companies in AI and big data, and Macquarie Asset Management listed Macquarie Focused Large Growth ETF LRGG.
Full articleSummary: Analysts from Wells Fargo and RBC Capital reiterated Buy rating on US Bancorp (USB) with price targets of $48.00 and $47.00 respectively. The stock closed at $42.22. The analyst consensus rating suggests a 9.97% upside from current levels.
Full articleSummary: Chubb raises dividend by 5.8%, marking its 31st consecutive hike after Berkshire Hathaway revealed it owns a $6.7 billion stake in the company, leading Chubb's shares to hit an all-time high.
Full articleSummary: Troy Rohrbaugh, Co-CEO of JPMorgan Chase & Co. will present at a conference on June 12, 2024. JPMorgan Chase & Co. is a leading financial services firm with $4.1 trillion in assets and $337 billion in stockholders' equity as of March 31, 2024.
Full articleSummary: The Dow Jones Industrial Average surpassed 40,000 points for the first time ever, driven by easing inflation data and signaling a strong U.S. economy. The milestone is a major psychological endorsement for investors. Despite the rally, caution is advised regarding future market gains.
Full articleSummary: Cisco Systems Inc beat fiscal third-quarter earnings and revenue expectations, issued strong 2024 and fourth-quarter revenue forecasts, but the stock reversed premarket gains to trade down 2.2%. Analysts are mostly skeptical despite three Price-target hikes, with 17 out of 24 calling it a 'hold'. Options volume is nine times higher than usual, with calls outnumbering puts. The stock is facing resistance at $50 and the 140-day moving average.
Full articleSummary: DA Davidson analyst Gil Luria predicts a long-term decline of up to 20% in Nvidia stock due to increasing competition from its largest customers developing their own AI chips.
Full articleSummary: US lawmakers attacked the head of FDIC over accusations of failure to address workplace misconduct, including discrimination and sexual harassment. The independent report found a 'patriarchal, insular, and risk-averse culture' contributing to persistent misconduct.
Full articleSummary: Lattice Semiconductor is the last FPGA pure-play company standing, competing with larger rivals Intel and AMD. Despite recent disappointing financial results, Lattice is faring better than competitors in FPGA segment. The company's strategic focus on small and mid-sized FPGAs, coupled with competitors' sunsetting of similar product lines, poses growth opportunities for Lattice in the coming years.
Full articleSummary: Cisco will participate in the J.P. Morgan Global Technology, Media and Communications Conference on May 20, 2024, with their CFO as a speaker. No new financial information will be discussed.
Full articleSummary: Nvidia's data center revenue reached a record high of $18.4 billion in Q4 FY24 due to increased demand for AI-capable chips, with estimates suggesting it could further increase to $21.17 billion in Q1 FY25. Nvidia unveiled the Blackwell platform, its latest AI technology, at the GPU conference, aiming to collaborate with partners like Amazon, Microsoft, and Google for later release.
Full articleSummary: Intel Corporation executives are scheduled to participate in investor conferences to discuss the company's business, strategy, and automotive opportunity
Full articleSummary: Intel has unveiled details about their upcoming Falcon Shores GPU which will be power-hungry, featuring a TDP of up to 1500W, surpassing competitors like NVIDIA and AMD. Intel plans to combine AI prowess of Gaudi with Xe graphics architecture for HPC and compute-heavy workloads.
Full articleSummary: Raymond James Associates hires a former Wells Fargo advisement team that managed over $900 million in client assets.
Full articleSummary: Bank of America Corporation announced the redemption of all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ and Series U, with redemption dates on June 20, 2024, and June 17, 2024, respectively.
Full articleSummary: Nike has teased a new 'Grey/Black' colorway of the Kobe 8 Protro sneaker, expected to release later this year.
Full articleSummary: Eric Fry predicts a potential $1 trillion AI stock could provide gains similar to Nvidia over the next 40 years.
Full articleSummary: PNB MetLife is driving insurance awareness initiatives in Jammu & Kashmir in collaboration with the State Government and regulator, reaching various cities and locations to provide insurance services, conducting camps and creating murals to raise awareness about life insurance. The company also utilized digital marketing campaigns and newspaper ads to promote its initiatives.
Full articleSummary: Wolfe Research reiterated its Outperform rating on Nvidia (NVDA) and Advanced Micro Devices (AMD), with a price target raise for Nvidia to $1,200. AMD was added to Wolfe Alpha List due to its robust AI product lineup.
Full articleSummary: Charles Schwab announced transitions in several executive positions including CFO, COO, and head of Advisor Services. Peter Crawford to retire as CFO and be succeeded by Mike Verdeschi. Joe Martinetto to leave COO role and become executive chairperson of Schwab Banks. Bernie Clark to transition to an executive advisory role at Schwab. Leadership roles to be filled by other leaders at the firm.
Full articleSummary: PayPal shares were traded on NAS exchange five years ago, closing at $113.87 on that day. If an investor had invested $10,000 in PayPal at that time, they would now have 87.819 PayPal shares valued at $5,611.66 as of 15.05.2024 when the share price was $63.90, indicating a decrease of 43.88%. Recently, PayPal was valued at $67.42 billion in the market. The first trading day of PayPal shares on NAS exchange was 20.07.2015, opening at $40.00.
Full articleSummary: The Pentagon has refused delivery of numerous F-35s due to delays in technology upgrades, causing Lockheed Martin to struggle with overcrowding at its facilities. The government's withholding of payments for undelivered jets is contributing to financial strain on Lockheed, with potential liabilities arising from the parked aircraft. Lawmakers are considering reducing the Pentagon's F-35 purchases amidst growing frustrations with the program's delays and technical issues.
Full articleSummary: The Dow Jones Industrial Average (^DJI) reached a record high above 40,000 on optimism around a possible interest rate cut this year, driven by softer inflation print and comments from Fed officials. New York Fed President John Williams sees inflation potentially falling below 3% by the end of the year, indicating a likelihood of rate cuts.
Full articleSummary: The Dow Jones Industrial Average hit 40,000 for the first time ever, presenting President Joe Biden with an opportunity to refute his Republican opponent's predictions of a market collapse in 2020. Despite high inflation, the U.S. economy is performing well with record earnings estimates for the coming quarters.
Full articleSummary: Pfizer agrees to pay up to $250 million to settle lawsuits over Zantac, aiming to reduce potential liability.
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