Summary: Simon Property Group successfully sells its remaining investment in Authentic Brands Group generating total gross proceeds of $1.45bn, benefiting the Q1 results with after-tax net gains, raising quarterly dividend, and increasing full-year 2024 guidance. GlobalData retail analyst Neil Saunders highlights the success of the investment but emphasizes Simon's core focus on property rather than retail.
Full articleSummary: Alphabet Inc. is in talks to acquire marketing software provider HubSpot Inc., discussions are ongoing with no agreement reached yet.
Full articleSummary: Chevron Corporation (CVX) share price has increased 51% in the last three years, outperforming the market return of 17%. However, the recent returns have only been 7.8% including dividends. The company has shown improvement in profitability over the years.
Full articleSummary: Meta Platforms, Inc. carries debt, but the company has a substantial amount of cash and strong free cash flow, indicating it can manage its debt safely. The company's net cash position of US$39.7b and ability to convert 80% of EBIT to free cash flow are positive indicators of its financial stability.
Full articleSummary: Federal investigators express safety concerns about Ford SUV recall repair that doesn't fix gasoline leaks leading to engine fires. NHTSA demands more information from Ford regarding the recall remedy.
Full articleSummary: Red Hat and Oracle announced the general availability of Red Hat OpenShift on Oracle Cloud Infrastructure, enabling customers to run Red Hat OpenShift workloads on OCI with multiple installation methods and supported configurations.
Full articleSummary: U.S. Treasury yields rose on Thursday as investors analyzed Federal Reserve officials' comments on interest rate outlook.
Full articleSummary: KeyBanc analyst reiterated a Buy rating on Emerson Electric Company, with a new price target set at $125. Emerson Electric also received an upgrade to a Buy rating from Deutsche Numis with a $138 price target. The analyst consensus is Strong Buy with a price target consensus of $128.27.
Full articleSummary: Barclays analyst Julian Mitchell maintained a Hold rating on Emerson Electric Company (EMR) with a price target of $105.00, while the analyst consensus is a Strong Buy with an average price target of $128.27. Emerson Electric reported quarterly revenue of $4.12 billion and a net profit of $142 million, showing a decrease compared to the previous year. Insider sentiment is negative.
Full articleSummary: Medtronic Plc filed several patents related to medical devices and systems for detecting and measuring various health conditions like gastrointestinal pressure and cardiac signals. The company also has a significant grant share in the internet of things theme.
Full articleSummary: Long pauses between Federal Reserve rate actions historically good for stocks, with S & P 500 averaging a 6% gain during past pauses and 13.1% gain on average over the last six pauses since 1989. LPL Financial notes that the current 280-day pause is the second-longest in modern market history.
Full articleSummary: PepsiCo's beverage plant in Northern Spain aims to become the company’s first plant globally to reach net-zero emissions by 2025 through electrification, EUR 27 million dedicated to sustainability projects, part of PepsiCo Positive's strategic transformation.
Full articleSummary: Zacks Equity Research analysts discuss the latest news impacting Salesforce, Inc., BP p.l.c. and The Southern Co. Salesforce is benefiting from a robust demand environment and continuous expansion of generative AI offerings. BP has a strong portfolio of upstream projects and is focused on diversification into renewables. The Southern Company is leveraging demographics of its operating territories for steady earnings and dividend growth.
Full articleSummary: Salesforce, BP, and Southern Company were featured in the Zacks Equity Research analysts' blog with detailed research reports on each company's performance. Salesforce has outperformed the industry due to a robust demand environment and continuous expansion. BP shows growth potential with significant projects and diversification into renewables. Southern Company has gradually increased its customer base and is expected to generate steady earnings and dividend growth.
Full articleSummary: Wells Fargo launched a new business credit card called Signify Business Cash offering unlimited 2% cash rewards on business purchases with no annual fee.
Full articleSummary: The Dow Jones Industrial Average fell modestly after a big jump in weekly initial unemployment claims. Arm Holdings, Airbnb, and Roblox plunged after reporting earnings. In morning trading, the Nasdaq Composite was down 0.3%.
Full articleSummary: Oracle is doubling down on investments in artificial intelligence (AI) in India to help enterprises scale AI and generative AI. The latest release of Oracle’s converged database, Oracle Database 23ai, aligns with the company’s sharp focus on AI. Oracle is estimated to invest about $10 billion in data centre expansion to expand AI globally.
Full articleSummary: Honeywell announced a new NEP process to improve efficiency of light olefin production and lower CO2 emissions, aligning with energy transition megatrends.
Full articleSummary: Syndax Pharmaceuticals announced participation in a fireside chat at the Bank of America Securities 2024 Health Care Conference.
Full articleSummary: AMD's stock price plummeted after the release of its Q1 2024 earnings report, failing to meet revenue expectations and justify its high valuation, but the company's data center and client businesses are seeing strong growth driven by AI adoption, indicating potential for future growth.
Full articleSummary: President Biden praises the inauguration of a new Microsoft center at the location where the Foxconn project backed by former President Trump had failed.
Full articleSummary: Pfizer has agreed to settle more than 10,000 lawsuits related to cancer risks associated with the heartburn drug Zantac, which was discontinued due to the presence of a cancer-causing substance. The financial details of the deals were not immediately available.
Full articleSummary: Microsoft is internally debating whether to add newer Call of Duty installments to Xbox Game Pass while also considering a price hike for the Ultimate tier. This decision has the potential to impact Call of Duty's revenue and Game Pass offerings.
Full articleSummary: Exxon Mobil Corporation is about to trade ex-dividend in 4 days, with an upcoming dividend of US$0.95 a share. The company has a trailing yield of approximately 3.3% and a modest payout ratio of 46%. Exxon Mobil's earnings per share have been growing at 11% a year for the past five years, and it has increased its dividend at approximately 4.2% a year on average in the past 10 years. Overall, it looks solid from a dividend perspective.
Full articleSummary: The U.S. Commerce Department has revoked Intel and Qualcomm's export licenses to sell some chips to Huawei, impacting both companies' stock prices negatively. Huawei responds by launching its own in-house 5G chips to bypass bans.
Full articleSummary: - Century Therapeutics, Inc. reported financial results for Q1 2024, including plans to expand autoimmune disease regulatory filings for iPSC derived NK cell therapy CNTY-101, acquisition of Clade Therapeutics, and showcasing additional clinical data at ASCO Annual Meeting.
Full articleSummary: Wells Fargo & Company announced the launch of Signify Business Cash World Elite Mastercard, providing business owners with increased value and simplicity in cash rewards. The new business credit card offers unlimited 2% cash rewards on business purchases with no caps or categories to track and no annual fee.
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