Summary: Bracebridge Capital has become one of the largest holders of spot Bitcoin ETFs issued by BlackRock, Grayscale, and Ark Invest/21Shares.
Full articleSummary: Zeekr, a Chinese EV startup, raised $441 million through an oversubscribed IPO in the U.S., with plans to use the funds for new product development and market expansion.
Full articleSummary: Saudi state-backed developer Red Sea Global (RSG) has adopted Oracle's cloud-based hospitality solutions for their resorts in Saudi Arabia, facilitated by Oracle's investment in the Saudi market.
Full articleSummary: Home Depot's fiscal first quarter revenue falls below expectations as customers delay bigger projects due to higher interest rates. Company reaffirms full-year guidance despite anticipating declines in comparable sales. Sales have moderated after explosive demand during Covid pandemic.
Full articleSummary: Sony reported a 7% drop in annual profits in the fiscal year 2023, with PlayStation 5 sales slightly below target. The March quarter revenue exceeded expectations but operating profit fell short.
Full articleSummary: PepsiCo has initiated a voluntary recall for over 230 cases of mislabeled sugar- and caffeine-free Schweppes Ginger Ale, which were found to contain 'full sugar' and deemed unsafe to drink. The recall impacts cases shipped to Maryland, Pennsylvania, and West Virginia.
Full articleSummary: The Home Depot reported a decrease in sales and net earnings in the first quarter of fiscal 2024 compared to the same period in fiscal 2023. The company reaffirmed its fiscal 2024 guidance, which includes total sales growth of approximately 1.0% and new store openings.
Full articleSummary: Oracle reconfirms support extension for Java 11 through January 2032 and Java 8 on Solaris until at least December 2030. They are planning to sunset Advanced Management Console (AMC) and migrate users to Java Management Service (JMS). Commercial support for JavaFX on JDK 8 will end in March 2025.
Full articleSummary: McDonald's is considering offering a $5 meal deal to compete with rising fast food prices, following Wendy's move of providing $5 Biggie Bag Meal Deals. The proposed $5 meal includes a sandwich, chicken nuggets, fries, and a soft drink, aiming to attract budget-conscious consumers amidst inflationary food prices.
Full articleSummary: The European Union (EU) has added Booking.com to the list of digital companies subject to tougher competition rules, investigating whether X qualifies as a key gateway between businesses and consumers under the Digital Markets Act. Booking.com, with a dominant market share in Europe, now has six months to comply with the DMA regulations.
Full articleSummary: Chinese officials urge domestic tech giants to prioritize locally-made AI chips over Nvidia's, impacting Nvidia's efforts in the Chinese market. Nvidia has been developing new GPUs specifically for China but may face challenges due to the new directive.
Full articleSummary: Uzma Bhd has received a three-year contract from ExxonMobil Exploration and Production Malaysia Inc for electric wireline logging equipment and services in West Malaysian waters.
Full articleSummary: MHP has joined the NVIDIA Partner Network to expand its technology portfolio, offering solutions based on NVIDIA Omniverse platform and other high-performance computing approaches, AI, deep learning, and autonomous driving. MHP extensively deploys NVIDIA technologies for solutions in automotive and manufacturing sectors.
Full articleSummary: Salesforce.com is expected to post strong earnings and revenue growth for the current and next fiscal years, with estimates surpassing the previous year's figures. The company has consistently exceeded EPS and revenue estimates in the past four quarters.
Full articleSummary: Wells Fargo has invested $143 million in Bitcoin ETF products, signaling a significant move towards Bitcoin adoption by financial institutions. Other major institutions, like Susquehanna International Group, have also allocated significant funds to Bitcoin ETFs. Despite higher management costs, the majority of investments are in Grayscale Bitcoin Trust (GBTC).
Full articleSummary: Wells Fargo reported first-quarter earnings miss estimates due to coronavirus impact, resulting in reduced net interest income and lower fee income. The company's efficiency ratio increased, credit quality was mixed, and the stock is expected to have below average return in the next few months.
Full articleSummary: Gold price holds positive ground as traders await key US inflation data, including the US Producer Price Index (PPI) and Fed Chair Jerome Powell's speech. Despite pressure from higher US interest rates, safe-haven flows due to Middle East tensions help boost the precious metal.
Full articleSummary: Swiss National Bank reduced its holdings in Coca-Cola Consolidated by 10.8% during the fourth quarter, institutional investors made modifications to their holdings, and the company announced a quarterly dividend.
Full articleSummary: Coca-Cola is reducing the average weight of their PET bottles for popular beverages, aiming to cut plastic usage by 800 million bottles in 2025 and lessen emissions. The initiative entails cost of $52 million for bottle molds and filling equipment adjustments. The company's lightweighting effort is part of its sustainability strategy to make packaging more environmentally friendly.
Full articleSummary: Cisco has introduced AI-powered capabilities to enhance its AppDynamics On-Premises solution, improving application observability and security for sectors like finance, healthcare, and government. The new features include anomaly detection, root cause analysis, application security tools, and SAP monitoring.
Full articleSummary: Truist Financial raised Chevron's target price from $156.00 to $166.00 with a hold rating. Various other research firms also increased their price targets on Chevron with buy ratings. Chevron's stock has been performing well and the company recently announced a quarterly dividend. Insiders have been actively selling company stock. Institutional investors have shown interest in increasing their stake in Chevron.
Full articleSummary: Honeywell signed Memoranda of Understandings with the Iraqi government and private sector to support local infrastructure and energy needs. The agreements focus on collaborations for Iraq's oil and gas fields and aim to provide development, automation, and monitoring services.
Full articleSummary: Fortive Corporation is set to present at the Bank of America Transportation, Airlines, and Industrials Conference 2024.
Full articleSummary: International Business Machines Co. (NYSE:IBM) has been assigned a consensus recommendation of 'Hold' by research firms. Analysts provided mixed ratings, with three sell ratings, six hold ratings, and five buy ratings. The average 12-month target price is $181.29.
Full articleSummary: BlackRock Inc.'s head of Asia-Pacific Susan Chan sees Japan as an attractive destination for global investors due to monetary policy shift and corporate governance reforms, with opportunities arising from normalization of interest rates and emergence of inflation. BlackRock identifies Japan alongside ETFs and private markets as a major opportunity in Asia. Chan also mentioned that China continues to grow despite challenges, with positive policy changes from the government.
Full articleSummary: The UK's NHS has introduced Pfizer's tafamidis for the treatment of ATTR-CM, a rare heart condition, which significantly reduces hospitalization and mortality risks. The drug prevents the accumulation of protein deposits in the heart, leading to a 41% decline in mortality risk for patients. The NHS decision is supported by funding from the Innovative Medicines Fund, benefiting over 1,000 eligible patients.
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