Summary: Benjamin F. Edwards & Company Inc. decreased its position in Bank of New York Mellon by 2.6% during the fourth quarter. Several other hedge funds also made moves with BK shares. The Bank of New York Mellon Co. announced a quarterly dividend of $0.42 per share.
Full articleSummary: Disney and Warner Bros. Discovery have announced plans to team up for a combined streaming service bundle including HBO Max, Disney+, and Hulu in Summer 2024, offering ad-supported and ad-free plans.
Full articleSummary: Exodus wallet received approval to list its common stock on NYSE with ticker symbol EXOD, highlighting mainstream integration of crypto businesses and a robust regulatory endorsement. Listing signifies the ability to offer and sell shares of its Class A common stock directly to the public, enabling Exodus to raise capital in a regulated manner for expanding its technological offerings and market reach. The move elevates Exodus's profile and sends a positive signal to the market about blockchain-based businesses.
Full articleSummary: Target Corporation (NYSE:TGT) is about to trade ex-dividend, with an upcoming dividend of US$1.10 a share to be paid on the 10th of June. The company has been paying out dividends at a rate of US$4.40 per share over the last 12 months, resulting in a trailing yield of 2.8% on the current share price of US$159.59. Target's dividend is covered by both profits and cash flow, indicating its sustainability.
Full articleSummary: PepsiCo's plant in Northern Spain will switch all heating to green electricity sources, aiming to become net-zero site by 2025. The company has already invested in various sustainability projects to reduce emissions and improve efficiency.
Full articleSummary: Capital One Financial issued Q1 2024 EPS estimates for GlycoMimetics with a 'Equal Weight' rating. The consensus estimate for GlycoMimetics' full-year earnings is ($0.54) per share. Several brokerages commented on GLYC, with StockNews.com downgrading it and HC Wainwright maintaining a 'neutral' rating.
Full articleSummary: Kraft Heinz to cut 2,600 jobs by closing seven plants in the US and Canada over the next two years, amounting to roughly 14% of the company's North American factory workforce.
Full articleSummary: Pascagoula is seeing a boom in new retail with millions of dollars invested in new stores like Starbucks and Smoothie King, following the recent opening of ALDI grocery store and other national chain stores.
Full articleSummary: Tesla has laid off roughly 14,000 employees, representing ten percent of its workforce, amidst challenges such as competition from China and concerns over battery replacement costs. One tech expert attributes part of the company's struggles to Elon Musk's social media presence.
Full articleSummary: Gold prices remained stagnant in Asian trade due to investor bias towards the dollar and concerns over U.S. interest rates, while copper prices rose with weaker Chinese import data.
Full articleSummary: Disney and Warner Bros. Discovery are partnering to launch a new streaming bundle this summer, featuring Disney+, Max, and Hulu with both ad-free and ad-supported options.
Full articleSummary: IBM and SAP are extending AI capabilities across SAP’s cloud solutions to foster innovation for several industry sectors, with an initial focus on various industries. IBM will provide over 100 AI solutions through IBM Innovation Studios and SAP Experience Center sites.
Full articleSummary: Turkey's state gas operator Botas signed a deal with ExxonMobil for LNG supplies, aiming to diversify resources and reduce reliance on Russian gas. Turkey imports gas from various countries, with over 40% coming from Russia. ExxonMobil plans to double LNG production capacity by the end of the decade.
Full articleSummary: Microsoft announced a $3.3B investment package to strengthen Southeast Wisconsin as an AI hub, including infrastructure development, a manufacturing-focused AI co-innovation lab, and AI skilling initiatives. The investments aim to create long-term benefits for the economy and job market in the state.
Full articleSummary: A district court denied FedEx Ground Package Systems Inc.'s request to seal a variety of records in a collective action by Massachusetts delivery drivers for unpaid overtime.
Full articleSummary: Philip Morris International (NYSE: PM) faced challenges due to slowing sales growth in IQOS product, leading to a 37% stock decline in 2018. An analyst downgrade and Altria's deal with JUUL Labs further impacted the stock.
Full articleSummary: Zacks Research analysts cut Q2 2024 earnings per share estimates for PepsiCo, Inc. Analysts anticipate $2.15 EPS for the quarter. Additionally, the company recently increased their quarterly dividend. PepsiCo stock trading down 0.3%.
Full articleSummary: Mechanics Financial Corp decreased its holdings in JPMorgan Chase & Co. by 4.8% in the 4th quarter, while several other large investors increased their holdings. JPMorgan Chase & Co. also announced an increase in its dividend. Additionally, analysts have set new price targets for the stock.
Full articleSummary: Three insurance companies have denied Chevron's $57 million claim for the seizure of an oil cargo by Iran. Chevron contests the denial of insurance coverage and is looking forward to proving their case in court.
Full articleSummary: FTC is investigating Lotte Chilsung Beverage and Coca-Cola Beverage for price-fixing conspiracy amid inflation concerns in Korea.
Full articleSummary: ServiceNow and Microsoft announced an expanded strategic alliance to enhance employee choice and flexibility by combining their generative AI capabilities. The integration of ServiceNow Now Assist and Microsoft Copilot aims to create a seamless enterprise experience for employees to increase productivity and unlock new avenues of work.
Full articleSummary: ServiceNow and Microsoft announced expanded strategic alliance to combine generative AI capabilities, introducing ServiceNow Now Assist and Microsoft Copilot integration for enhanced employee choice and flexibility
Full articleSummary: Exodus faces delay in listing on NYSE American due to SEC's last-minute decision, despite reporting strong revenue growth. CEO remains hopeful for swift resolution.
Full articleSummary: The US has revoked licenses that allowed Qualcomm and Intel to sell chips to Huawei, potentially impacting Huawei's ability to release future high-end Intel laptops. Huawei may start working with other chip manufacturers like Chinese company Loongson.
Full articleSummary: Moderna is suing Pfizer and BioNTech over alleged infringement of its mRNA vaccine patents, leading to a high-stakes legal battle in London High Court. The lawsuit revolves around Moderna's claims that Pfizer and BioNTech violated its foundational mRNA patents in developing the 'Comirnaty' vaccine.
Full articleSummary: Apple's latest iPad commercial showcases destruction of various objects to promote the iPad Pro, sparking criticism for its insensitivity amidst a time of technological upheaval and potential job disruption caused by AI. The ad imitates a TikTok trend of object crushing and has led to backlash from viewers, questioning the company's approach in marketing the device, despite the publicity it garnered.
Full articleSummary: The U.S. Supreme Court is considering discarding the Chevron doctrine, which could have significant implications for intellectual property law and regulations, impacting smaller entities like technology startups. The potential loss of Chevron deference may lead to increased legal complexity, higher costs, difficulty in raising capital, barriers to market entry, and competitive positioning challenges for small entities in the innovation landscape.
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