Summary: Citigroup stock initially slumped after positive earnings report with a revenue miss, but trend reversed later. Positive earnings for Q4 2018 with $4.3 billion, driven by tax reform. Stock was trading around $59 at the time of writing, up from a 5-day low of $54.
Full articleSummary: Intel's Aurora supercomputer moves to #2 on the June 2024 Top500 list, entering the 1 Exaflop club and achieving significant performance improvements. The system excels in various benchmarks and is considered a major accomplishment.
Full articleSummary: OpenAI announced a new flagship chatbot, GPT-4o, which can operate in 50 different languages with improved speed and quality. There is a potential deal between OpenAI and Apple (AAPL) to put ChatGPT in iPhones, according to Bloomberg. Moor Insights & Strategy Founder Patrick Moorhead provided insights on the importance of the announcement and potential impact on big tech investors.
Full articleSummary: Concerns arise that the sharp interest rate hikes of the past two years may not bring down inflation as quickly as hoped, leading to doubts about potential rate cuts this year. Despite high rates, Americans' spending and inflation show minimal impact, prompting the need for further assessment by the Federal Reserve. The housing market and economy may be slower to feel the effects of rate hikes due to previous low rate refinancing.
Full articleSummary: Varun Beverages shares rose over 5% on positive brokerage views post PepsiCo's first-quarter results. Brokerages like Jefferies, CLSA, and Morgan Stanley have raised target prices for the stock. Varun Beverages reported a 25% increase in profit after tax in Q1 2024.
Full articleSummary: Meme-stock trading is back with GameStop (GME) stock surging, but analysts are bearish due to lack of company coverage and poor fundamentals. Retail traders are driven by FOMO and YOLO, while institutional investors may short the stock following rallies. Despite the surge, analysts rate GME as a Moderate Sell with a price target of $5.60.
Full articleSummary: Merck & Co. posted a 57 percent drop in first-quarter profit, missing expectations, blaming it on drop in sales of drugs and loss of income from partnership on cholesterol medicines. Coca-Cola Co. reported a 10 percent fall in profit due to restructuring charges and write-downs but met analysts' estimates.
Full articleSummary: FedEx held a conference discussing their initiatives DRIVE, Network 2.0, and One FedEx as part of their strategic transformation. They emphasized their focus on delivering speed and reliability to customers, highlighted the success of DRIVE in improving operating income and margin despite challenging market conditions, and outlined their plans for integrating all operations under One FedEx.
Full articleSummary: Brokers have upgraded their ratings on Funko, Inc. (FNKO), Cummins Inc. (CMI), and Deere & Company (DE), suggesting potential investment opportunities based on thorough research and deeper insights.
Full articleSummary: Nvidia, a top AI stock, has strong fundamentals and a cheap valuation. However, it is excessively exposed to the AI industry, which poses risks and challenges to its future growth and profitability.
Full articleSummary: ORCA Computing and Poznań Supercomputing and Networking Center (PSNC) collaborate with NVIDIA to accelerate the development of hybrid quantum-classical approaches, revolutionizing various fields such as biology, chemistry, and key industry applications. The collaboration aims to push the boundaries of hybrid quantum-classical high-performance computing (HPC) by leveraging each organization's proficiency in HPC, quantum information science, and quantum technology.
Full articleSummary: Bank of America Corp reported better-than-expected quarterly profit driven by loan growth and record-breaking M&A volumes in its investment banking business. Loans grew across every category except home equity, with record advisory fees of $850 million. Revenue, net interest income, and profit all increased from a year ago.
Full articleSummary: Apple's launch of the new M4 iPad Pro raised concerns about the company's silicon portfolio progression, particularly skipping over the M3 Ultra and going straight to the M4. The M4 offers significant improvements over the M3, including a faster CPU and GPU, enhanced Neural Processing Unit (NPU) performance, and improved memory bandwidth.
Full articleSummary: IBM reported a decline in revenue for fiscal 1Q16, marking the 16th quarter of no revenue growth, although it beat analyst expectations.
Full articleSummary: Booking Holdings, parent company of Booking.com, was named a gatekeeper under the European Union’s Digital Markets Act (DMA) to ensure fair market practices and transparency. HOTREC welcomed the announcement, citing unfair business practices by Booking.com. The DMA requires Booking.com to comply with obligations within six months.
Full articleSummary: Ieq Capital LLC decreased its position in Medtronic plc by 33.6% during the fourth quarter, with other institutional investors making moves as well. Insiders at Medtronic have been actively buying and selling its stock. Wall Street analysts have issued mixed ratings on MDT, with price target increases and varied recommendations.
Full articleSummary: Medtronic plc (NYSE:MDT) traded up 1% during mid-day trading on Monday. The company announced a quarterly dividend and reported positive quarterly earnings exceeding analyst expectations. Insiders were involved in selling company stock, while institutional investors have also shown interest in the stock.
Full articleSummary: OpenAI unveiled its most capable AI model, GPT-4o, which is faster, cheaper, and more capable than the previous model. It is available to both free and paid users, with features rolling out immediately and others to follow in the upcoming weeks. The model brings improved voice and video features that could potentially compete with existing voice assistants like Apple's Siri.
Full articleSummary: PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 2% during mid-day trading on Monday following analysts setting new price targets. Stocks of other research firms weighed in on PYPL and gave their respective ratings. The firm's 50-day simple moving average is $64.13. PayPal last released its earnings results on April 30th, reporting $1.08 earnings per share for the quarter, missing analysts' consensus estimates. Insider selling was also reported, along with institutional trading of PayPal shares.
Full articleSummary: Danaher plans spin-off, Union Pacific, CSX, Norfolk Southern avoid rail strike, Netflix upgraded to 'outperform', Amazon workers vote on strike, Shell names new CEO, Okta initiated at 'buy', Wynn Resorts rated 'outperform', Arconic lowers outlook
Full articleSummary: Stocks moved in premarket trading on news of corporate developments and agreements. Danaher rose after announcing a spin-off, while rail companies like Union Pacific saw gains due to a strike being avoided.
Full articleSummary: Stocks traded sideways with major indexes mixed. GameStop (GME) soared 74.4% followed by Novavax (NVAX) up 47.6% and AMC Entertainment (AMC) up 78.4%. Intel (INTC) rose 2.2% while Tencent Music Entertainment (TME) climbed nearly 11%. Nvidia (NVDA) closed 0.6% higher after price target upgrade.
Full articleSummary: Intel is in exclusive talks with Apollo Global to finance a chipmaking plant in Ireland, aiming to modernize its chip production facilities and shift supply chains to western Europe and North America. The company is also receiving funding from the US government under the 2022 Chips Act to expand its capacity.
Full articleSummary: Amazon, Visa, and Pfizer are featured in top research reports. Amazon's shares have outperformed its industry, driven by strong AWS performance and expanding global presence. Visa's strategic acquisitions and alliances are fostering long-term growth, with revenues expected to increase. Pfizer's top line is declining due to lower demand for COVID-19 products.
Full articleSummary: The European Commission designates Booking as a gatekeeper for its online intermediation service Booking.com under the Digital Markets Act, while not extending the decision to X Ads and TikTok Ads. Booking has six months to comply with DMA rules. Market investigations ongoing for X social networking service and its online advertising services.
Full articleSummary: NVIDIA and MediaTek are working on a new Arm-based AI processor to compete in the AI PC market, with the processor expected to be finalized in Q3 2024 and priced around $300. The collaboration aims to bring a new atmosphere to the AI PC market with low power consumption and advanced technologies.
Full articleSummary: Pfizer has identified antiviral compounds with the potential to inhibit coronaviruses and is engaging with a third party for screening. Results expected by end of March.
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