Summary: Fisher Asset Management LLC increased its holdings in Philip Morris International Inc. by 64.6% in the 4th quarter, numerous other institutional investors have also modified their holdings of the company. Analysts have revised their ratings on Philip Morris International with an average target price of $105.50. The stock price of Philip Morris International increased by 0.8% and the company reported strong earnings results for the quarter.
Full articleSummary: A FedEx Boeing 767 made a dramatic landing at Istanbul Airport due to failed nose gear. The pilots were evacuated and uninjured. The incident could damage Boeing's reputation amid struggles to regain trust.
Full articleSummary: Lockheed Martin secures an $861.3 million contract modification to produce and deliver additional high mobility artillery rocket system launchers for the U.S. Army.
Full articleSummary: U.S. stock futures fell as Wall Street momentum decreased and interest rates rose, with benchmark treasury yields climbing above 4.5%. The Dow had a six-day winning streak but the S&P 500 closed lower for the first time in five days.
Full articleSummary: Allegations of serious defects in fuselages made by Spirit AeroSystems, the largest supplier to Boeing, have been made by a former quality inspector which has prompted investigations by the Federal Aviation Administration. This has put both Spirit AeroSystems and Boeing under intense scrutiny.
Full articleSummary: Cisco announced a new virtual appliance for self-hosted observability offering with AI-powered intelligence for anomaly detection, root cause analysis, application security, and SAP monitoring. They also introduced AppDynamics Flex for licensing flexibility between self-hosted and SaaS observability offerings.
Full articleSummary: Charles Schwab's Head of Trading Services discusses the firm's active trading desk, offering of various trading capabilities, trends in retail trading like the rise in derivatives, and challenges for retail brokers such as providing trustworthy information. He also touches on the evolution of trading technology, the impact of AI on trading, and the electronification of markets to democratize investing. Automation themes like Schwab's Trader API and the focus on enhancing the trading desk for future needs are highlighted.
Full articleSummary: Lockheed Martin has secured an $861.3 million contract for the production of M142 HIMARS, reflecting the growing global demand for light multiple rocket launchers. The system's versatility, mobility, and precision strikes are valuable in various combat scenarios. HIMARS has been effective in Ukraine's conflict with Russia, demonstrating its strategic significance.
Full articleSummary: The article discusses lesser-known aspects of the new iPad Pro and iPad Air models, such as the absence of an ultra-wide camera in the iPad Pro, the exclusion of a charger in the UK or EU, and enhanced features in the 1TB and 2TB Pro models. It also mentions differences like a brighter screen on the 13-inch iPad Air and various audio enhancements in the models.
Full articleSummary: Salesforce to release its first quarter fiscal year 2025 results on May 29, 2024, after market close.
Full articleSummary: The US Dollar strengthens against its rivals as Fed policymakers express confidence in the economy, leading to a rise in the US Dollar Index. Gold price remains steady amid geopolitical uncertainty and higher bond yields. AUD/USD trades lower due to weakness in the Australian Dollar.
Full articleSummary: New York Community Bancorp Inc. was the least expensive bank for the second consecutive month, with a total return of negative 17.7% in April. They reported a net loss in the first quarter but outlined financial goals. Among other banks, Blue Ridge Bankshares Inc. was not part of April's analysis, First Foundation Inc. moved to the second-lowest valuation, and First Financial Bankshares Inc. was the most expensive bank at 343.4% of adjusted TBV.
Full articleSummary: Anglo Asian Mining plc's subsidiary, Azerbaijan International Mining Company Limited, has signed a Vendor Financing Facility Agreement with Caterpillar Financial Services Corporation for refinancing part of the purchase cost of Cat underground mining equipment for its new Gilar mine in Azerbaijan.
Full articleSummary: Pfizer Inc has agreed to settle over 10,000 lawsuits related to Zantac, but these settlements do not completely resolve the company's exposure to claims. Pfizer will continue to explore opportunistic settlements for certain cases.
Full articleSummary: The global courier services market is projected to reach $602.47 billion by 2028 with a CAGR of 6.6% due to the growth in the e-commerce industry. Major players in the market include United Parcel Service Inc., Deutsche Post AG, FedEx Corporation, Japan Post Co Ltd., and DB Schenker.
Full articleSummary: Market veteran Ed Yardeni warns of a growing risk of a stock market melt-up due to the 'Fed Put' and potential interest rate cuts, with an optimistic outlook projecting S&P 500 to reach record highs by 2026. However, melt-ups are often followed by sharp declines, raising concerns for investors.
Full articleSummary: Disney and Warner Bros. Discovery are planning to offer their streaming services - Disney+, Hulu, and Max - in a bundle that resembles a traditional cable TV package, providing a wide range of content. Pricing details have not been disclosed yet.
Full articleSummary: JPMorgan Chase (JPM) experiences a data breach affecting over 450,000 customers, leading to financial and reputational risks. GlobalData poll indicates that cybersecurity is a major concern for the banking industry in 2024 alongside inflation/high interest rates. Despite efforts to combat cyber threats, JPM finds itself subject to a lawsuit due to the breach.
Full articleSummary: Ford initially planned to sell only electric passenger cars in Europe by 2030 but due to softer demand for EVs, the company is revising its strategy. Ford is discontinuing several models and offering plug-in hybrid vehicles if there is enough demand. Its lineup will include all-electric vehicles like the Puma Gen-E and a zero-emission Explorer on Volkswagen's MEB platform.
Full articleSummary: IBM announced the launch of IBM Power S1012, designed to enhance AI workloads from core to cloud and edge, offering significant benefits for industries like retail. The server delivers 3X more performance per core compared to previous models, optimized for edge-level computing.
Full articleSummary: Van ECK Associates Corp increased its position in BlackRock MuniHoldings Quality Fund II by 11.5% during the 4th quarter, indicating growing confidence in the stock. Several other institutional investors have also adjusted their holdings of the company. The company recently declared a monthly dividend of $0.045, reflecting a dividend yield of 5.38%.
Full articleSummary: Starbucks (NASDAQ: SBUX) had a rough week with falling comparable sales, slashed guidance, and disappointing revenue and earnings results. The stock price saw a significant decline as a result.
Full articleSummary: Sanad, a global aerospace leader, has migrated its critical systems to Oracle Cloud Infrastructure for business agility, security, and scalability.
Full articleSummary: Nike has signed a 20-year deal for a UK logistics campus and national supply chain hub in the East Midlands, aiming for an 'Outstanding' BREEAM rating. The company is expanding its fashion offerings and focusing on ecommerce growth.
Full articleSummary: IBM has expanded its software availability to 92 countries including India in the AWS marketplace to simplify procurement processes and create new efficiencies for clients. Additionally, IBM is launching 15 new IBM Consulting professional services and assets on the AWS Marketplace focused on data and application modernization, security services, and industry-specific solutions.
Full articleSummary: GAP was upgraded from a 'neutral' to a 'buy' rating by Citigroup with a target price of $28.00, signaling a potential upside of 24.97%. The stock has also received other positive ratings from analysts, with an average rating of 'Hold' and a consensus price target of $20.39. GAP's recent earnings report showed better-than-expected results, beating EPS estimates by $0.29.
Full articleSummary: Colgate-Palmolive (India) Ltd. shares fell 1.35% to Rs 2792.0 with a gap-up start in the session. The company reported a decrease in consolidated sales but an increase in net profit for the latest quarter. The stock had a price-to-earnings ratio of 60.33 and a return on equity of 60.84.
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