Summary: Medtronic will post its quarterly earnings results before the market opens on Thursday, May 23rd, with analysts expecting earnings of $1.45 per share for the quarter and guidance for FY 2024 set at 5.190-5.210 EPS. There have been recent analyst reports raising target prices for Medtronic shares and the company also announced a quarterly dividend.
Full articleSummary: Pfizer to pay $250 million to settle over 10,000 lawsuits related to Zantac, a heartburn drug linked to cancer risk, with ongoing discussions and legal battles among pharmaceutical companies related to the drug's liability.
Full articleSummary: A man working as a vendor for UPS died after falling into a trash compactor at a UPS facility in Dallas.
Full articleSummary: David Rolfe, a seasoned portfolio manager at Wedgewood, made significant adjustments to his investment strategy in Q1 2024. He increased his stake in UnitedHealth Group Inc while selling out Alphabet Inc and reducing positions in Meta Platforms Inc and Motorola Solutions Inc.
Full articleSummary: Asian shares retreated on Friday after U.S. stocks edged back from their record heights. U.S. futures fell, oil prices edged higher, Chinese stocks were little changed amid persisting weakness in the economy, and Dow briefly topped 40,000.
Full articleSummary: Intel's upcoming Lunar Lake CPUs, specifically the Core Ultra 5 238V and Core Ultra 5 234V, have leaked out and will feature up to 32 GB of onboard LPDDR5X memory. These CPUs are expected to be launched later in 2024 with mass availability in 2025.
Full articleSummary: Wells Fargo & Company initiated coverage on Texas Instruments with an underweight rating and a $150.00 price target. Several other analysts have given mixed ratings, with a consensus rating of Hold and an average price target of $180.57. Meanwhile, the company recently posted strong quarterly earnings, beating analysts' estimates.
Full articleSummary: The European Commission has opened an investigation into Meta over concerns regarding the protection of children from social media addiction, along with age-verification tools and compliance with the Digital Services Act.
Full articleSummary: Deere & Company reported a decrease in net income and worldwide net sales for the second quarter of 2024 compared to the same period last year. The company updated its full-year net income forecast to approximately $7.0 billion and highlighted continued stability in the construction industry despite softening global agricultural and turf demand. Deere & Company continues to invest in innovative technologies and solutions to drive customer success.
Full articleSummary: Deere & Company (DE) shares fell 5.1% in pre-market trading as the company cut its 2024 guidance, reported a decrease in bottom line and net sales for equipment operations, and updated its net income expectations for fiscal 2024.
Full articleSummary: United Parcel Service, Inc. (UPS) is being aided by rising demand for online shopping and a solid free cash flow, marked by share repurchases and dividend increases. However, increasing capital expenses pose a concern.
Full articleSummary: US lawmakers attacked FDIC chair Gruenberg for agency's failure to tackle workplace misconduct, including discrimination and sexual harassment. Republicans called for his resignation, while Democrats criticized the move as political.
Full articleSummary: PepsiCo plans to invest £8 million in its Pipers Crisps production facility in the UK to enhance production capacity and meet increasing demand, including expanding export markets. The investment will also focus on improving facilities for the factory's staff members.
Full articleSummary: Mozilla and Nvidia have teamed up to bring RTX video to Firefox, providing AI-powered enhancements to video quality. Firefox 126 introduced support for NVIDIA RTX video, enabling features such as Video Super Resolution and Video HDR to improve video details and vibrancy.
Full articleSummary: EU-Kommission eröffnet Verfahren gegen Meta wegen Suchtverhalten bei Kindern und Jugendlichen in Bezug auf hauseigene Dienste und unzureichende Alterskontrollen. Weiterführende Untersuchungen werden durchgeführt.
Full articleSummary: Walmart and Canada Goose stocks rose due to positive financial results, Deere and Freeport-McMoRan stocks fell after trimming profit forecasts and declining metal prices, respectively.
Full articleSummary: Lowe's Companies, Inc. (LOW) is set to report its first-quarter fiscal 2024 earnings with an anticipated decline in revenues and earnings per share. The company faces challenges related to softer DIY demand trends but has shown resilience and adaptability in navigating market conditions. Despite short-term headwinds, Lowe's remains optimistic about the home improvement industry's outlook, with strategic investments and a favorable valuation positioning it for long-term success.
Full articleSummary: PepsiCo's price target raised by Jefferies Financial Group with a 'buy' rating, potential upside of 15.23%. Several other research firms also gave positive ratings to PEP stock.
Full articleSummary: Intel is expected to launch the Lunar Lake mobile platform, which will be the successor to Meteor Lake and feature on-package memory. Test files reveal details about the Core Ultra 5 234V and 238V CPUs with 16GB and 32GB of LPDDR5X memory, respectively.
Full articleSummary: U.S. stocks retreated from record highs, Dow Jones Industrial Average briefly crossed 40,000 for the first time, resulting in Dow slipping while S&P 500 and Nasdaq also dipping. Deere reported stronger profit but lowered profit forecast leading to a drop in its stock price. Homebuilders and companies like GameStop and AMC Entertainment experienced declines. Walmart reported stronger profit, lifting its stock, indicating positive economy signal. Target and other retailers rose following Walmart's report. Chubb surged after Berkshire Hathaway disclosed ownership stake. Under Armour warned of revenue decline but announced cost-cutting programs. Strong profit reports and hope for Fed interest rate cut boosted U.S. stock indexes to record levels.
Full articleSummary: Stock market indices hit fresh highs driven by strong corporate earnings and optimism about Federal Reserve rate cuts. Walmart's profit and sales increase led to a surge in its shares. Deere & Company faced a decline in share prices after reducing its outlook due to decreased purchases by farmers.
Full articleSummary: Thermo Fisher Scientific has developed a DNA-based test that can provide a more precise identification of blood types, helping in screening blood donations and matching them to proper patients. This advancement aims to improve transfusion safety and efficacy for patients, especially those with rare blood types.
Full articleSummary: Dow Jones briefly passed 40,000 points for the first time powered by strong corporate earnings and increasing bets of interest-rate cuts, but closed slightly below the benchmark. Despite concerns of inflation, unemployment, and interest rates, positive reports from companies like Walmart have boosted the index.
Full articleSummary: Meta, the parent company of Facebook, shut down its enterprise product Workspace after nine years, as it struggled to compete in the enterprise technology space with companies like Microsoft and Salesforce/Slack. Despite having millions of users and big brands, experts believe Workspace failed due to lack of long-term support and infrastructure for enterprise sales.
Full articleSummary: RFK Jr. has filed a new lawsuit against Meta, claiming censorship of his content violates his civil rights and freedom of speech. The lawsuit is based on a misreading of laws and misleading arguments. Despite Meta rectifying the blocking of his 30-minute documentary, RFK Jr. insists on being 'shadow banned' due to lack of views, citing an AI chatbot response as proof.
Full articleSummary: Topgolf (MODG) partners with PepsiCo (PEP) for an eight-year beverage agreement, starting in May 2024, with unique player experiences and giveaways.
Full articleSummary: Gilead Sciences Inc. was ordered to provide unredacted legal invoices and billing records to the US government related to a breach suit against the Centers for Disease Control.
Full article