Summary: Producer price index data for April showed higher inflation, but downward revisions to earlier data tempered concerns. Health care prices moderated as airfares fell. S&P 500 edged higher ahead of key consumer price index and retail sales reports.
Full articleSummary: Google I/O 2024 kicks off featuring latest versions of Google's software platforms and a focus on AI technologies with Gemini taking centerstage alongside CEO Sundar Pichai.
Full articleSummary: Salesforce announced new AI-powered student success tools for Education Cloud to enhance student support, improve career readiness, and grow enrollment. The AI tools include Intelligent Degree Planning, Skills Generator, Einstein Mentorship Summaries, Data Cloud for Education, Einstein Copilot Recruitment & Admissions Actions, and Intelligent Question Generator for Student Intake.
Full articleSummary: Meta, the parent company of Facebook, is shutting down Workplace, an enterprise communication platform, after a ten-year run. The closure is not a surprise, as Workplace faced strong competition from Slack and Microsoft Teams. The company recommends Workvivo, acquired by Zoom, as a migration-ready alternative. Meta's priorities are shifting towards AI, signaling potential future reorganizations.
Full articleSummary: PayPal Holdings, Inc. is a leading company in the field of technology platforms that facilitates global digital and mobile payments. Recent analyses by Barclays and JMP Securities indicate optimistic prospects for the company, with positive ratings and price target upgrades. Under the guidance of CEO Alex Chriss, PayPal is committed to product innovation and expanding its offerings.
Full articleSummary: Amazon Prime Video will stream five NASCAR Cup Series races starting in 2025, with Dale Earnhardt Jr. as lead analyst for the coverage.
Full articleSummary: Tesla is hiring back some of the nearly 500 members of its Supercharging team that CEO Elon Musk dismissed last month, including top managers like Max de Zegher.
Full articleSummary: Corporate executives and board members have been making significant stock purchases in early May, with notable buys in Walt Disney and Sensata Technologies. Insider buying activity includes a mix of purchases and sales, providing potential signals about management's confidence in their companies.
Full articleSummary: Disney has released a 'know before you go' guide for the new Tiana's Bayou Adventure ride at Magic Kingdom, offering information on virtual queue, Lightning Lane access, ride experience, and merchandise availability.
Full articleSummary: Thieves are targeting high-powered Tesla and other EV charging stations to steal copper from cables, causing significant damage and repair costs.
Full articleSummary: Alphabet is expected to announce advancements in artificial intelligence at its annual I/O developer event, introducing new technology including updates to Android OS and advancements in AI technology such as Gemini. OpenAI demonstrated a new AI model that can work with sound, images, and text, challenging Google's competitive position in AI products like Google Assistant.
Full articleSummary: CVS Health Corp. may experience a significant decline in its Aetna Medicare Advantage membership next year as it focuses on increasing profits by reducing benefits.
Full articleSummary: Microsoft is leading Big Tech investment in data centers, notably in AI development. The company has made multi-billion investments in data centers in the US, France, the UK, and is planning a significant investment in a US data center, outpacing its Big Tech rivals like Amazon and Alphabet.
Full articleSummary: HBK Capital Management, a major shareholder in Hess Corp., to abstain from voting on $53 billion acquisition by Chevron due to arbitration risks.
Full articleSummary: Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Gilead Sciences by 6.5% during the 4th quarter. Several other institutional investors also increased their stakes in GILD. Gilead Sciences reported positive earnings results for the quarter, surpassing the consensus estimate. Multiple research firms have provided ratings and price targets for GILD.
Full articleSummary: Union Pacific Railroad launched a new service for shipping goods between Southern California and the Chicago area, reducing travel time to three days, aiming to improve efficiency and speed.
Full articleSummary: Oracle deploys Sovereign Cloud and AI capabilities in Japan through Oracle Alloy in partnership with NRI, allowing customers access to over 100 Oracle Cloud Infrastructure services and the latest AI capabilities. NRI operates Oracle Alloy independently in its data centers to meet digital sovereignty requirements. Oracle plans to expand local customer support in Tokyo and Osaka for their public cloud regions.
Full articleSummary: Intel (NASDAQ: INTC) was not selected as one of the 10 best stocks for investors to buy now by The Motley Fool Stock Advisor analyst team. The Stock Advisor service has outperformed the S&P 500 since 2002.
Full articleSummary: 1. Union Pacific Corporation (UNP) has strong free cash flow generation and shareholder-friendly activities but is facing challenges in terms of decline in volumes and revenue weakness. 2. Freeport-McMoRan Inc. (FCX) is making progress in exploration activities and reducing debt but may face headwinds from higher costs and weak copper volumes. 3. Block, Inc. (SQ) is experiencing growth in transaction and subscription revenues driven by the Square and Cash App ecosystem, but is facing competitive pressure and softness in consumer spending trends.
Full articleSummary: Dow Jones, S&P 500, and Nasdaq 100 futures were little changed ahead of Tuesday's stock market open. GameStop stock surged over 74% with the return of Keith Gill aka 'Roaring Kitty'. Labor Department to release key inflation report soon.
Full articleSummary: Chevron becomes the most shorted U.S. stock in April, surpassing Tesla, as short-sellers increase bets on weaker energy prices. Despite beating Wall Street consensus estimates, Chevron faces challenges from weak energy prices and refining margins. Hedge funds reduced their bets on both long and short positions in May.
Full articleSummary: Boeing is searching for a new CEO with two main frontrunners identified as Steve Mollenkopf and Stephanie Pope. Jefferies has maintained a Buy rating and a $270 per share price target on Boeing shares, with a positive outlook on the company's free cash flow recovery and growth potential through 2026 and beyond. However, Argus downgraded Boeing stock to Hold due to recent manufacturing quality problems and leadership changes, indicating a multiple-quarter turnaround period for the company.
Full articleSummary: Colgate-Palmolive India Ltd.'s profit rose in Q4 of fiscal 2024, beating analysts' estimates.
Full articleSummary: Meta has been aggressively hiring AI talent in 2024, including individuals with backgrounds in finance and fintech. They have hired AI engineering manager Onur Guzey from JPMorgan and staff engineer Xiang Li from Coinbase for their core ads team.
Full articleSummary: Comcast CEO Brian Roberts unveils plans for StreamSaver, a streaming product bundle including Peacock, Netflix, and Apple TV+. StreamSaver aims to offer an affordable streaming package for Comcast customers, joining the trend of rebundling streaming products in the pay TV business.
Full articleSummary: Bristol Myers Squibb enlists Mindy Kaling to support its plaque psoriasis campaign along with Ted Danson, emphasizing self-empowerment and the availability of Sotyktu for treatment. The drug was approved in September 2022 and marketed through a direct-to-consumer advertising launch.
Full articleSummary: Stuart Pann retires from leading Intel Foundry Services, handing over the charge to Kevin O'Buckley, raising questions about Intel's third-party foundry business viability. O'Buckley inherits challenges from Pann including technical and commercial challenges.
Full article