Summary: Shares of Caterpillar (CAT) are falling after a report accused the company of tax and accounting fraud, leading to a 1.4% drop in intraday trading.
Full articleSummary: Boeing is losing more aircraft orders than it is taking in, with orders tumbling and being outnumbered by canceled sales. Deliveries were weak in April and the company is falling behind Airbus in this aspect.
Full articleSummary: Comcast plans to bundle Apple TV+ with Peacock and Netflix into a discounted package for customers in an attempt to combat cord-cutting and reduce customer churn.
Full articleSummary: Boeing delivered 24 commercial airplanes in April, with 33 cancellations, largely due to Lynx Air ceasing operations. The planemaker produced fewer 737 MAX single-aisle jets to enhance manufacturing quality following increased scrutiny from regulators.
Full articleSummary: Costco is opening its second warehouse club in Sarasota County in North Port's Wellen Park, with a grand opening set for June 5th.
Full articleSummary: Honeywell International Inc. and Weatherford International announced a partnership to deliver a comprehensive emissions management solution for the energy industry, combining Honeywell's emissions management suite with Weatherford's Cygnet SCADA platform.
Full articleSummary: The Home Depot reaffirmed its fiscal 2024 guidance, including 53 weeks of results, with projected 1.0% earnings per share growth for the 53 weeks and $2.3 billion added to total sales from the extra week. Net earnings for the first quarter were $3.6 billion, or $3.63 per share. Sales decreased by 2.3% to $36.4 billion for the quarter.
Full articleSummary: Alphabet is expected to announce advancements in artificial intelligence at its annual I/O developer event, including updates to Android OS and AI technology called Gemini. Google teased AI software with capabilities similar to OpenAI's GPT-4o model, showcasing realistic voice conversations.
Full articleSummary: Union Pacific Corp (UNP) has shown a strong 5-year return with an annualized rate of return of 9.44%, turning a $10,000 investment into $15,703.19 as of 05/13/2024. The company has paid $22.57/share in dividends over the past 5 years, with a current yield of approximately 2.12%.
Full articleSummary: Kraft Heinz is exploring a sale of its Oscar Mayer meats business that could fetch between $3 billion to $5 billion, facing declining consumer demand and having written down the value of its brands in 2019.
Full articleSummary: Apple and Google have collaborated to introduce a new feature that alerts users when a Bluetooth tracking device is being used to track them without consent, in response to privacy and security concerns. Apple also backported a security fix for a vulnerability that could be exploited to bypass kernel memory protections.
Full articleSummary: United States Senate Majority leader Chuck Schumer has urged the FTC to block Chevron Corp’s acquisition of smaller rival Hess Corp, citing concerns over potential increase in gas prices and negative impacts on competition and consumers. The proposed $53B deal is facing scrutiny amidst fears of further consolidation in the oil and gas industry.
Full articleSummary: The software industry is experiencing rapid growth due to increased adoption of innovative solutions, digitalization efforts, and integration of advanced technologies. Adobe Inc. (ADBE) and Intuit Inc. (INTU) are two stocks worth considering in May, with ADBE appearing to have a stronger financial position and outlook.
Full articleSummary: Honeywell Automation India is expected to report Q4 earnings on May 15. Analysts expect earnings per share of INR 154.80, predicting an increase in revenue by 15.11% compared to the previous year's quarter.
Full articleSummary: Coca-Cola Femsa ADR (KOF) saw an improvement in its Relative Strength (RS) Rating from 69 to 72. The stock is aiming to rebound and reach a threshold RS Rating over 80.
Full articleSummary: John Deere is committing to a $70 million manufacturing plant for small excavators in Kernersville, creating 150 full-time jobs over the next five years. The plant construction is set to start in late 2024.
Full articleSummary: Thermo Fisher Scientific appoints Peter McDonald as Process Development Services Director to enhance process development offering and strengthen technical capabilities at its Cork campus.
Full articleSummary: Several home textiles and home furnishings chains experienced solid traffic gains in the first quarter, with Home Sense leading the group with a nearly 10% increase in foot traffic. Costco stood out among wholesale clubs with an 8.9% traffic increase, outperforming Target and Walmart.
Full articleSummary: Charter announced a franchise agreement to bring broadband service to Berry, Kentucky, marking the company’s 10,000th local community served. The project, costing $37 million, exemplifies Charter’s commitment to bridging the digital divide in rural areas. Spectrum will also make a $70,000 investment in the community for park renovations, music education, and digital learning centers.
Full articleSummary: Warren Buffett commented on Tesla's full self-driving technology, mentioning it would be good for society but bad for insurance companies volume. He observed that anything reducing accidents would reduce costs for insurance companies.
Full articleSummary: Oracle CEO Safra Catz revealed the company's goal to advance humanity through its enterprise software, database, and cloud services. The company has also made efforts to encourage diversity and inclusivity.
Full articleSummary: Nomura Research Institute (NRI) has partnered with Oracle to deploy Oracle Alloy in its data centers, enabling its customers to move to the cloud faster and more securely, offering a full set of OCI services including AI capabilities. NRI aims to meet growing demand for managed cloud solutions supporting financial governance and digital sovereignty requirements.
Full articleSummary: DEWALT, a Stanley Black & Decker brand, celebrated its 100th anniversary by honoring over 1,000 construction workers in New York City with breakfast, coffee, and tool donations totalling $100,000 to local training centers. The event was attended by New York Giants Quarterback Tommy DeVito and former NFL Quarterback Boomer Esiason. Stanley Black & Decker's President and CEO rang The Opening Bell® at the NYSE in honor of the milestone.
Full articleSummary: Medtronic plc announced encouraging results of studies evaluating a novel approach to implantable defibrillator therapy at Heart Rhythm 2016, with leads being placed outside the heart and veins under the rib cage. The results showed that this extravascular lead placement may provide similar benefits as conventional ICDs in pacing the heart for patients at risk of dangerous heart rhythms.
Full articleSummary: Recent economic data, including the hotter-than-expected Producer Price Index (PPI) reading, indicates that inflation is not moving towards the Federal Reserve's 2% target as quickly as hoped. Chief Investment Officer Megan Horneman of Verdence Capital Advisors emphasizes the need for a more hawkish tone from the Fed due to various economic warning signs, such as the ISM Manufacturing and ISM Services Reports.
Full articleSummary: Colgate-Palmolive (India) Ltd reported a 20.1% increase in profit after tax in the March quarter along with growth in net sales. The company saw sequential growth momentum in the fourth quarter of FY24 driven by strong performance in toothpaste and positive signs of demand recovery in rural markets. The company also increased advertising spend by 18% and declared a second interim dividend of Rs 26 per share and a one-time special interim dividend of Rs 10 per share.
Full articleSummary: MetLife, Inc. (MET) is expected to have brighter days ahead as the economy improves and the pandemic recedes. Earnings estimates have been revised upward, revenue is showing growth, underwriting margins are expected to improve, and its investment strategy appears sound. The company's diversification strategy and strong capital position are additional attractive factors.
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