Summary: Key events for tomorrow include the release of the Consumer Price Index (CPI), remarks by Minneapolis Federal Reserve President Neel Kashkari and Fed Governor Michelle Bowman on inflation and rate cuts, and quarterly earnings reports from companies like Cisco (CSCO), Grab Holdings (GRAB), and Dole (DOLE).
Full articleSummary: Broadcom becomes sole seller of VMware Cloud on AWS, eliminating sales through AWS or third-party channel partners. Hock Tan confirms the change in a blog post, emphasizing the goal to consolidate VMware offerings into set subscriptions. Customers must now work with Broadcom or authorized resellers for subscriptions.
Full articleSummary: Converse, a part of Nike Inc., is cutting roles as Nike implements a business restructuring plan to save costs and streamline its organization.
Full articleSummary: NVIDIA introduces the NVIDIA Blackwell platform during GTC in March, promising AI generation with significantly reduced energy usage compared to the NVIDIA Hopper architecture, offering enhanced performance in double-precision formats crucial for various industries' scientific simulations. The release of NVIDIA GB200 brings new opportunities for high-performance computing with a 30x speedup for resource-intensive applications compared to the H100 generation.
Full articleSummary: Meta to shut down Workplace social network by Aug. 31, 2025, and transition customers to Zoom's Workvivo product as the company focuses on AI and metaverse technologies.
Full articleSummary: Texas Instruments Incorporated (TXN) is experiencing a strong upward trend, with the stock currently at $190.83, on pace for the highest close since March 29, 2022.
Full articleSummary: DBRS, Inc. downgraded the credit ratings of M&T Bank Corporation, including the Company’s Long-Term Issuer Rating to A from A (high) and its primary banking subsidiary, Manufacturers & Traders Trust Company to A (high) from AA (low). The downgrades were due to M&T’s weakening asset quality metrics, increased levels of nonperforming loans and criticized loans, as well as expectations of higher interest rate environment. M&T’s credit ratings currently have a Stable trend.
Full articleSummary: Google rolled out a retooled search engine that favors AI-generated responses over website links, potentially disrupting internet traffic flow. The AI summaries will start appearing at the top of search results for complex subjects or brainstorming purposes. The increased AI emphasis may impact digital advertising revenue generated through search engine ads and website links.
Full articleSummary: NASA, Boeing, and ULA are preparing for the NASA's Boeing Crew Flight Test to the International Space Station, undergoing additional testing with a new launch target set for May 21. The Starliner team is resolving a minor helium leak issue in the spacecraft's service module. The mission aims to demonstrate the Starliner's capabilities and readiness for NASA certification.
Full articleSummary: Intel is finalizing an $11 billion deal with Apollo Global Management to fund and expand its Fab 34 in Ireland, which is expected to boost the company's production capabilities. The increased investment amount aligns with Intel's recent financial struggles in its foundry unit.
Full articleSummary: Intel is bullish about prospects for AI in India and aims to collaborate with partners in both the private and public sectors to establish AI infrastructure. The company recently launched its new AI chip Gaudi 3 to challenge Nvidia's dominance and has commercial deals with Bharti Airtel, Infosys, Ola/Krutrim in India. Intel is working on creating a supply chain in the country and enabling an OEM ecosystem for laptop manufacturing.
Full articleSummary: Nvidia is expected to report earnings with a predicted 10.2% move in either direction. An option trade is suggested to capitalize on the expected positive reaction.
Full articleSummary: Comcast announced a new streaming bundle called 'StreamSaver' that includes Apple TV+, Netflix, and Peacock at a reduced price, available to Comcast customers. This move comes as streaming companies like Comcast and Netflix have raised prices over the past year.
Full articleSummary: Home Depot posted revenue below Wall Street expectations, with a drop in same-store sales due to decreased foot traffic and smaller ticket sizes. The company saw growth in building materials and power departments but faced challenges in larger discretionary projects. The pending acquisition of SRS Distribution could expand its market and drive sales growth.
Full articleSummary: Fidelity's Ford O'Neil, a portfolio manager at Fidelity for three decades overseeing more than $155 billion in assets, learned teamwork from playing lacrosse and applied it to reshaping the firm's fixed-income strategy, which led to outstanding performance. His team-based investment approach has consistently outperformed peers and benchmarks, with less volatility, making Fidelity Total Bond Fund and Fidelity Total Bond ETF standout funds in the Morningstar Category. O'Neil believes in a risk-controlled environment and emphasizes generating results above benchmark through consistent performance.
Full articleSummary: Google Search is introducing AI Overviews feature powered by a new Gemini model, offering quick answers and links for further information to users in the U.S. and soon to be expanded to more countries.
Full articleSummary: Ford Motor Co. has unveiled the 2025 Dakar Rally Ford Raptor and named drivers for the race, including rally veterans Carlos Sainz Sr. and Nani Roma. The company has begun active testing on the vehicle, aiming to compete in the challenging Dakar rally in Saudi Arabia in January.
Full articleSummary: Costco customers expressed shock and outrage after a woman was caught returning the same expensive skincare product filled with water multiple times, sparking discussions about fraudulent returns and possible membership bans. The company's lenient return policy was scrutinized, with some customers suggesting banning individuals who take advantage of the system.
Full articleSummary: Disney unveils new lineup of TV programming and announces various shows and collaborations, including a new series from Selena Gomez, ESPN adding Jason Kelce, and a Bruce Springsteen documentary on Hulu and Disney+.
Full articleSummary: Tesla is being sued by the Environmental Democracy Project for multiple violations of the Clean Air Act at its Fremont assembly plant, with ongoing accusations of harmful pollution emission. The company has faced previous fines and lawsuits related to environmental impact in the US and Germany.
Full articleSummary: Charter Communications issued $3 billion in Senior Secured Notes due 2029 and 2034 with certain redemption options and restrictions on corporate transactions.
Full articleSummary: Nvidia Corp. CEO Jensen Huang received a 60% pay increase to $34.2 million for fiscal 2024, largely driven by stock awards and exceeding revenue goals. His compensation also included $2.5 million for security expenses.
Full articleSummary: Tesla's Model Y production plant in Giga Berlin-Brandenburg remained safe amidst protests, leading to arrests and injuries. Model Y production resumed after anti-Tesla protests and police efforts to protect the factory.
Full articleSummary: Hasbro will release new Transformers One figures at Target this summer, including individual figures and packs with toys that are ready to race.
Full articleSummary: Starbucks Corporation (NASDAQ:SBUX) faces challenges due to a downturn in same-store sales and increased competition, but maintains market strength through its strong economic moat, global presence, digital transformation, and sustainability initiatives. The company adjusts its 2024 revenue outlook to low single-digit growth and implements a turnaround plan focused on service efficiency and digital engagements. Despite setbacks, Starbucks strategically navigates market challenges, particularly in China, to sustain long-term success.
Full articleSummary: IBM has expanded its server portfolio by introducing the IBM Power S1012, a one-socket, half-wide, Power10 processor-based system for edge computing and core business workloads. The new server offers 3x performance per core compared to its predecessor, the Power S814, and includes AI acceleration capabilities with Matrix Math Accelerators per core for AI inferencing at the point of data. Transparent memory encryption is also a key security feature available on all Power10 processor-based servers, including the Power S1012.
Full articleSummary: Apple announced the new 2024 iPad Pro with upgrades such as Ultra Retina XDR OLED displays and the new M4 chip, making it a powerful and impressive tablet option. The price for the baseline 11-inch model starts at $999 for the 256GB version.
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