Summary: Warren Buffett disclosed selling Berkshire Hathaway's entire stake in Paramount Global at a substantial loss. He also admitted regret over past investments in IBM, Walt Disney, and ConocoPhillips.
Full articleSummary: ExxonMobil has found oil at its Likembe-01 well in Angola's Block 15, marking a significant discovery after the last one in 2022. The company is now assessing the well, part of an initiative by Angola's energy regulator to boost production from existing projects.
Full articleSummary: Apple released iOS 17.5 with security patches, new features like 'Repair State' mode, Pride wallpapers, game Quartiles for Apple News Plus subscribers, and enhancements in Podcasts and Books apps.
Full articleSummary: Terran Orbital Corporation (NYSE: LLAP) reported a decline in first-quarter revenue for 2024 due to EAC adjustments, leading to a gross loss of $6.2 million. The company secured a contract with Lockheed Martin to build 18 space vehicles for the Space Development Agency's Tranche 2 Tracking Layer. Despite the revenue dip, the company's backlog increased to over $2.8 billion.
Full articleSummary: Google Search is undergoing significant changes to incorporate more AI-driven features, including personalized and summarized results. The company is utilizing its Gemini AI model to enhance search capabilities, providing automatic AI-generated summaries at the top of search results.
Full articleSummary: Nabla Bio, a company focusing on generative protein design, announced a $26 million Series A financing led by Radical Ventures and strategic collaborations with AstraZeneca, Bristol Myers Squibb, and Takeda worth over $550 million.
Full articleSummary: Stocks saw a positive day with Dow and Nasdaq gaining triple-digit points, Nasdaq hitting a record close. Investors turn attention to upcoming CPI report after upbeat PPI and wholesale prices readings.
Full articleSummary: CVS Health executives are expecting to lose up to 10% of Aetna's Medicare Advantage members next year but prioritize profitability over membership growth, planning to reduce supplemental benefits in 2025.
Full articleSummary: Boeing's CST-100 Starliner crewed flight, targeting a May launch, faces delays due to valve and helium leak issues. NASA astronauts Butch Wilmore and Suni Williams are part of the mission, which aims to test manual features on the spacecraft during docking and return to Earth.
Full articleSummary: Texas Instruments (NASDAQ:TXN) has outperformed the market over the past 15 years by 4.48% on an annualized basis, with an average annual return of 16.88%. Currently, Texas Instruments has a market capitalization of $173.96 billion. If an investor had bought $100 of TXN stock 15 years ago, it would be worth $1,056.75 today.
Full articleSummary: Inflation being referred to as 'the hidden tax' in the US and its impact on voters ahead of the 2024 election. President Biden trailing behind Trump in battleground states due to rising inflation and policies being criticized for not addressing it effectively. Polls showing younger voters favoring Trump slightly over Biden. Economy, inflation and safety from crime identified as key topics ahead of the election with recipients trusting Trump more than Biden to address them.
Full articleSummary: Microsoft released security updates addressing approximately 60 vulnerabilities, including a zero-day bug in Windows DWM Core Library. They urged attention to actively exploited issues in Microsoft 365, Office, and Sharepoint. Researchers from Kaspersky, DBAPPSecurity, and Google were credited for identifying these vulnerabilities.
Full articleSummary: CCLA Investment Management increased its stake in PepsiCo by 40.3% during the fourth quarter, with other institutional investors and hedge funds also adding to their positions. Wall Street analysts have mixed ratings on the stock with the average rating being 'Moderate Buy'. PepsiCo's stock traded down slightly by 0.6% on Tuesday.
Full articleSummary: Google's annual developers conference, Google I/O, showcased advancements in AI models and tools like Gemini, Project Astra, Imagen 3, and more. The company also introduced new features such as Circle to Search, Gemini Nano, and Gems in the Gemini mobile app. Hardware updates included mentions of Trillium Tensor processors, Blackwell GPUs from Nvidia, and Axion TPUs. Additionally, the launch event focused heavily on AI improvements across various products and services.
Full articleSummary: JPMorgan Chase & Co. adjust its stake in DS Smith PLC, crossing the notification threshold with over 5% ownership, totaling 70 million voting rights, potentially indicating a strategic shift in investment strategy.
Full articleSummary: Charter Communications, Inc. (NASDAQ: CHTR) announced the closing of its offering of $3.0 billion in aggregate principal amount of Senior Secured Notes due in 2029 and 2034.
Full articleSummary: The US Air Force is imposing financial penalties on the United Launch Alliance, a joint venture of Lockheed Martin Corp. and Boeing Co., over delays of two military satellite launches this year. The delays are related to certification of the new Vulcan rocket and BE-4 engine made by Blue Origin LLC.
Full articleSummary: SMC Global acquired a half-mile stretch of Union Pacific's railway in Kansas City to strengthen their relationships with U.S. producers and customers who prefer rail service. They are actively seeking partnerships with businesses in the region for contract manufacturing and chemical transloading.
Full articleSummary: Intel announced the sunsetting process for Ponte Vecchio GPU and focusing on Gaudi 2/3 and Falcon Shores for HPC and AI, skipping Rialto Bridge. Ponte Vecchio is transitioning to a support phase with existing clusters.
Full articleSummary: The Dow Jones Industrial Average stumbled after US Producer Price Index (PPI) inflation came in higher than expected but recovered slightly, with upcoming events including US Consumer Price Index (CPI) inflation and Retail Sales.
Full articleSummary: Boeing is facing a delay in the first crew launch of its Starliner spacecraft due to a helium leak, which is being addressed by the ground team. The delay is attributed to various technical setbacks in the Starliner program.
Full articleSummary: Bank of America Securities analyst Ken Hoexter maintained a Buy rating on FedEx, with a consensus rating of Moderate Buy and an average price target of $307.12. Corporate insider sentiment is negative, with an increase in insider selling activity.
Full articleSummary: Meta plans to shut down Workplace by 2026 and focus on AI and the metaverse. Workplace customers will have the option to transition to Zoom's Workvivo product.
Full articleSummary: Google showcased new AI advances at Google I/O 2024, including revamped search engine and upcoming 'Ask Photos' feature; rolled out Gemini 1.5 Pro model globally.
Full articleSummary: Stocks rose on Tuesday following the release of fresh U.S. economic data. Traders are waiting for another key inflation report, as producer price index reading for April came in above estimates.
Full articleSummary: Disney's ad sales chief, Rita Ferro, featured in an animated clip with Family Guy characters during an upfront event, promoting Disney's global streaming offerings and adult animated content integration from Hulu into Disney+.
Full articleSummary: Tesla is reportedly rehiring dismissed employees including top managers in the charging infrastructure sector under new conditions. CEO Elon Musk announced over $500 million investment in expanding the charging network this year. The recent downsizing of the Supercharger division raised concerns about further layoffs within Tesla.
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