Summary: Elon Musk's decision to fire Tesla's Supercharger team has led to chaos at suppliers like Envirospark and Bullet EV Charging Solutions. Suppliers are left in limbo with projects stalled, seeking clarity on next steps from Tesla which has been unresponsive.
Full articleSummary: Boeing's manufacturing delays are affecting summer travel plans, leading to fewer flights, route suspensions, and potential price hikes for certain destinations. Carriers like Southwest Airlines and United Airlines are adjusting their schedules due to the snarled delivery schedule of Boeing's 737 Max and 787s.
Full articleSummary: Booking Holdings has been added to the EU's list of companies under heightened digital scrutiny as they are classified as an online gatekeeper under the Digital Markets Act, aiming to prevent Big Tech platforms from dominating online markets.
Full articleSummary: Bristol Myers Squibb's attempt to challenge AstraZeneca's Imfinzi in unresectable non-small cell lung cancer failed in a phase 3 trial. The study found that Opdivo-Yervoy-concurrent-chemoradiation regimen couldn't beat Imfinzi maintenance approach. Both Imfinzi and BMS are facing setbacks in their expansion efforts in this indication.
Full articleSummary: An aframax tanker removed from US sanctions blacklist has secured a 5 to 7-month time charter with ExxonMobil's shipping arm after being hit by US sanctions for alleged breaches of the oil price cap last October.
Full articleSummary: Honeywell International Inc. (HON) closed at $191.43, showing a -1.55% move from the previous day, outperforming S&P 500. Analysts expect a year-over-year decline in earnings and anticipate a positive revenue growth for the company. HON is currently ranked as Zacks Rank #3 (Hold) with a higher Forward P/E ratio compared to the industry average.
Full articleSummary: Analyst Frank Lee predicts Nvidia's earnings to soar 45% above Wall Street's estimate next year, raising his price target to $1,350 and projecting significant upside in earnings and revenue for the fiscal year ending January 2026.
Full articleSummary: Altimeter Capital Management, led by Brad Gerstner, is famous for its concentrated bets on juggernaut tech stocks like Meta, Uber, Snowflake, Microsoft, Amazon, and Nvidia, with a focus on high-profile tech winners.
Full articleSummary: Pfizer has agreed to settle 10,000 lawsuits related to Zantac, with claims stating that the heartburn drug led to cancer. Sanofi previously settled 4,000 personal injury claims related to Zantac for an undisclosed amount.
Full articleSummary: Microsoft announced a $3.3B investment package to strengthen Southeast Wisconsin as a hub for AI-powered economic activity, innovation, and job creation. Investments include cloud computing and AI infrastructure, a manufacturing-focused AI co-innovation lab, and an AI skilling initiative for residents.
Full articleSummary: Ford Motor Company has announced Sherry House as their next CFO, making her the first woman to become CFO of Ford Motor. She will succeed current CFO John Lawler in early 2025. House brings important leadership to Ford as they aim to build a profitable EV business and generate new revenue streams.
Full articleSummary: The Dow Jones Industrial Average outperformed in the latest market rally, driven by renewed hopes of rate cuts, solid corporate earnings, and increased stock buybacks. Among the top performers were Amgen, Amazon.com Inc., Apple Inc., Boeing, and The Goldman Sachs Group, indicating a broadened market rally trend that could continue upward.
Full articleSummary: United Parcel Service (UPS) has been one of the most searched-for stocks on Zacks.com lately. Recent stock performance has been negative, influenced by the company's earnings estimates and revenue growth expectations. The Zacks Rank #3 (Hold) indicates UPS may perform in line with the broader market in the near term.
Full articleSummary: Nike introduces A'ja Wilson as the newest member of its signature athlete roster, with a signature collection in the works inspired by her style and performance. The collection includes a signature shoe and aims to empower women and girls.
Full articleSummary: Barclays analyst Betty Jiang maintained a Buy rating on Chevron with a price target of $203.00. The Street suggests a Strong Buy consensus rating with an average price target of $188.54, representing a 13.70% upside. RBC Capital also maintained a Buy rating on the stock with a $190.00 price target.
Full articleSummary: AI chip leader Nvidia will drive strong growth, leading to high demand for advanced packaging technologies, creating investment opportunities in under-the-radar stocks like Onto Innovation and Kulicke & Soffa.
Full articleSummary: Capital One Financial raised their FY2024 earnings estimate for Chord Energy to $22.93 per share, up from $22.62. Chord Energy reported $5.10 EPS for the quarter, beating the consensus estimate of $4.75. The company's revenue was $1.09 billion, surpassing analysts' expectations.
Full articleSummary: Cisco has been hit by a sales slowdown due to lower corporate spending on technology, impacting Q3 results, but expected long-term growth from the Splunk deal. For Q3, revenue is forecasted to sharply decline by 16.4% YoY, excluding the impact of the Splunk deal.
Full articleSummary: Pressure on Alphabet stock due to a 2.27% loss, technical analysis shows potential selling pressure from investors in the short term despite medium-term bullish trend, first support at 163.9 USD with possible further negative extension towards 162.9 USD.
Full articleSummary: Google's new Pixel 8a, priced at $499, offers impressive features such as powerful AI capabilities, top-notch cameras, a vibrant OLED display, and improved battery life, making it a strong contender as the best midrange Android phone available.
Full articleSummary: Various Wall Street firms have made research calls on multiple stocks, including upgrades, downgrades, and initiations.
Full articleSummary: Warren Buffett made a $5 billion investment in Bank of America during the US debt-ceiling crisis in 2011, which turned out to be highly lucrative for Berkshire Hathaway. The investment included preferred shares, annual dividends, and stock warrants.
Full articleSummary: The Global Express Delivery Services Market is estimated to be USD 333.2 billion in 2022 and is expected to register a CAGR of 7.01%. The detailed report includes key players, market segmentation by region, type, and application, and analysis of factors driving market growth.
Full articleSummary: Jefferies Financial Group initiated coverage on Broadcom with a 'buy' rating and a price target of $1,550.00, indicating a potential upside of 15.09%. Various other analysts have also given positive ratings and increased price targets on Broadcom. Insiders have been selling shares, with Director Eddy W. Hartenstein selling 3,150 shares and Director Kenneth Hao selling 9,160 shares. Institutional investors have been making changes to their positions in AVGO.
Full articleSummary: Texas Instruments (NASDAQ:TXN) is considered undervalued, with a current trading price of US$170, below its intrinsic value of $233.94. The future outlook for Texas Instruments is positive, with profit expected to grow by 16% over the next few years. Investors are advised to consider the opportunity presented by the current undervaluation of the stock.
Full articleSummary: BlackRock has appointed Will Thomson as a managing director and portfolio manager in the climate infrastructure team in New Zealand. This follows the company's goal to launch a New Zealand focused strategy last year. Thomson will be responsible for sourcing climate infrastructure investment opportunities as well as managing diligence and transactions in New Zealand.
Full articleSummary: Tesla announced limited-time offer of heavily discounted 0.99% financing for Model Y to boost sales and address demand challenges caused by high interest rates. Similar to 0% loans in China, this offer is valid in the US until May 31, aimed at making EVs more affordable.
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