Summary: The European Union is set to issue new antitrust charges against Microsoft over concerns of undermining rivals in the videoconferencing app market. Microsoft faces fines of up to 10% of its global annual turnover if found guilty.
Full articleSummary: Enrique Hernandez Jr., a director at Chevron Corp, sold 2,549 shares of the company's common stock totaling approximately $421,206, adjusting his holdings to zero shares directly. The sale does not indicate a shift in the company's performance or future outlook.
Full articleSummary: Home Depot (HD) stock price is expected to continue falling in the near term based on the Elliott Wave Principle analysis. The correction is not yet complete, with further downside expected before a potential upside move.
Full articleSummary: ARM Holdings is setting up an AI chip unit ahead of Nvidia earnings.
Full articleSummary: Bitcoin (BTC) price rose 3% on May 13 as traders anticipated volatility ahead of U.S. macroeconomic data update. Factors like inflation data, interest rate forecasts, and historical patterns with Coinbase Premium Index were discussed by analysts.
Full articleSummary: Home Depot faces a class-action lawsuit for allegedly inflating original prices to exaggerate discounts on products like refrigerators, microwaves, and dishwashers. The plaintiffs seek $5 million in damages to be shared among misled consumers.
Full articleSummary: CVS Health Corp slightly hedges its long-term target for double-digit earnings growth due to uncertainties around COVID-19 vaccination, testing demand, and medical costs, including a rise in 2021 medical costs. Despite challenges, the company sees potential growth from pharmacy services and health insurance products in 2022.
Full articleSummary: Medtronic lays off 44 employees, earns FDA approval for Inceptiv spinal cord stimulator, and appoints Yarmela Pavlovic as chief regulatory officer.
Full articleSummary: Caterpillar is compared to Apple in terms of market capitalization and profitability. Despite competition, Caterpillar is expanding its market share and increasing dividends. Wall Street recommends holding Caterpillar for portfolio diversification, anticipating good performance in power, infrastructure, and machine construction sectors.
Full articleSummary: Terran Orbital Corporation has been awarded a subcontract by Lockheed Martin to produce 18 satellite buses for the Space Development Agency's Tranche 2 Tracking Layer contract. This partnership signifies confidence in Terran Orbital's capabilities and aims to enhance warfighter lethality and missile defense capabilities.
Full articleSummary: Apple has proposed a new compensation model for creators on Apple TV+ which would pay them based on the program's performance rather than upfront premium, including bonuses based on viewership, watch time, and cost-effectiveness. Netflix and Amazon are also working on similar proposals. The changes come after the writers strike highlighted issues with the traditional payment model in Hollywood for streaming content.
Full articleSummary: U.S. stock indexes closed mixed, with S&P 500 slightly down while Dow Jones and Nasdaq had minor gains. Incyte rose after announcing a $2 billion stock buyback, while GameStop soared 74.4% amid volatile trading. Fortrea Holdings fell 14.9% due to weaker-than-expected results.
Full articleSummary: Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) hit a new 52-week high with share price reaching $74.56 during mid-day trading. Several research firms upgraded their ratings and increased price targets for the stock. The company also announced a semi-annual dividend of $0.79 per share.
Full articleSummary: Costco's iconic $1.50 hot dog combo, a staple for almost 40 years, is no longer guaranteed to remain at that price due to recent changes in leadership. Costco's CFO mentioning a potential price increase and other upcoming changes signal shifts in the company's offerings, including membership fee hikes and stricter membership rules.
Full articleSummary: Intel is in talks to receive more than $11bn from Apollo Global Management to build a new chip factory in Ireland, aiming to expand globally and meet increased semiconductor demand. The company has experienced disappointing earnings forecasts and operating losses in its foundry business, but is striving to stay competitive with new AI chips like Gaudi 3.
Full articleSummary: Google and HP are partnering to commercialize Project Starline, a communication technology offering a realistic meeting experience through AI and 3D imaging.
Full articleSummary: Home Depot Inc is set to report its first-quarter financial results with analysts expecting a year-over-year decline in revenue but a rise in earnings per share. Analysts are optimistic about the company's position for share gains, especially in the professional customer segment. Various price targets have been set by different analysts, with a range of ratings from Buy to Market Perform. Key items to watch include the performance of the home improvement market and the company's growth in professional sales.
Full articleSummary: Barbara Furlow-Smiles, a former diversity program manager at Facebook and Nike, has been sentenced to five years and three months in prison for stealing more than $5 million through an elaborate scheme involving fraudulent vendors, fictitious paperwork, and cash kickbacks.
Full articleSummary: The yen's weakness is discouraging foreign investors from Japanese stocks due to diminished gains when converted back to dollars.
Full articleSummary: OpenAI launched its new flagship AI model, GPT-4o, with updates including a desktop service and improved voice assistant capabilities. The company also showcased international language capabilities of ChatGPT, ability to analyze images and documents, and advanced voice features.
Full articleSummary: Bank of America Securities analyst maintained a Sell rating on Nevro Corp. Steed has an average return of 6.7% on recommended stocks. Analyst consensus on Nevro Corp is a Hold. Piper Sandler also maintained a Sell rating on the stock with a $12.00 price target.
Full articleSummary: Pfizer follows Eli Lilly by introducing direct-to-consumer medicines platform 'Pfizer for All' providing medical information, pharmacy, and telehealth services to US patients, broadening offerings to include COVID antiviral Paxlovid and diagnostic kits.
Full articleSummary: Jefferies Financial Group downgraded shares of Texas Instruments from a buy rating to a hold rating with a reduced price target of $175.00, down from $200.00, while other analysts have mixed ratings on the stock.
Full articleSummary: Indexes were mostly flat on Monday but after a strong showing last week, which is constructive. Several stocks are setting up including Pure Storage, Costco, and PulteGroup.
Full articleSummary: Home Depot faces a class-action lawsuit for allegedly inflating original prices to exaggerate discounts on products, leading customers to pay more based on false pricing impressions.
Full articleSummary: Bank of America Securities analyst maintained a Buy rating on Service International with an average price target of $78.00. Oppenheimer also maintained a Buy rating with a $76.00 price target. Recent insider activity shows negative sentiment on the stock.
Full articleSummary: Kraft Heinz is considering selling its brand Oscar Mayer with estimated valuations ranging from $3 billion to $5 billion. The company aims to align its portfolio with consumer preferences for health and nutrition under new CEO Carlos Abrams-Rivera. Recent quarterly results disappointed investors due to cooling demand for products and supply chain issues in the cold cuts segment.
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