Summary: ACCC is close to reporting findings on bargaining power imbalance between Meta and Australian news media companies; Meta decided not to renew agreements to pay for news; Federal government considering using news media bargaining code to force Meta to negotiate with publishers or face fines.
Full articleSummary: Monroe Capital Corporation (NASDAQ: MRCC) announced its first quarter 2024 financial results with net investment income of $5.5 million and a net asset value (NAV) of $9.30 per share. Adjusted Net Investment Income decreased slightly by $0.01 per share compared to the previous quarter. The decrease in NAV was primarily due to net unrealized losses from portfolio companies with credit concerns.
Full articleSummary: Microsoft Corp. and LinkedIn released the 2024 Work Trend Index report on the state of AI at work, highlighting the significant increase in professionals adding AI skills to their profiles and the need for companies to move from experimentation to tangible business impact. AI power-users in Asia are transforming their workdays and leaders are urged to harness this momentum for ROI.
Full articleSummary: Citigroup Inc has asked vaccinated employees in all U.S. locations to start returning to the office from the week of March 21 for at least two days a week following successful prior return-to-office efforts.
Full articleSummary: Bristol-Myers Squibb (NYSE:BMY) stock fell 0.3% during trading on Wednesday, with analysts forecasting growth despite recent downgrades. The company recently posted their earnings results, beating EPS estimates. They also announced a quarterly dividend, yielding 5.50%. Institutional investors have been adjusting their holdings of BMY.
Full articleSummary: Comcast Corporation reported impressive financial results in the fourth quarter of 2017, beating both the top and bottom line estimates. The company's net income and revenue increased year over year, while they have increased dividends and announced a significant share repurchase program.
Full articleSummary: NVIDIA continues to dominate the discrete GPU market with GeForce having 76.7% of total PC GPUs, followed by AMD with 15.8%. GeForce RTX 40 Series GPUs, including new models, are popular while AMD's RDNA 3 offerings struggle to gain traction.
Full articleSummary: Salesforce shares fell 10.7% in April due to unfavorable market conditions and concerns about a potential $11 billion acquisition of Informatica. The company's drop was more attributable to market conditions rather than deteriorating expectations for its performance.
Full articleSummary: PepsiCo announces 10 finalists for its APAC Greenhouse Accelerator Program 2024, focusing on sustainable agriculture, circular economy, and climate action. The program aims to support startups in the APAC region to deliver innovative solutions for environmental and sustainability challenges.
Full articleSummary: Stock markets closed mixed, with positive momentum in Dow Jones and negative sentiment in Nasdaq Composite. Various companies reported earnings, with companies like Lyft and Wynn Resorts trading higher, while Shopify, Uber, Airbnb, and AMC faced challenges. Macro data showed increase in mortgage applications and decrease in US wholesale inventories.
Full articleSummary: PayPal plans to invest $500 million in Uber as the ride-hailing firm prepares for its IPO. Uber is expected to seek a valuation between $80 billion and $90 billion, which is lower than indications from last year.
Full articleSummary: Microsoft's plan to invest $3.3 billion in a domestic AI data center in Wisconsin, creating jobs and providing skilling opportunities for residents.
Full articleSummary: IBM and SAP announced their vision for the next era of their collaboration, focusing on new generative AI capabilities and industry-specific cloud solutions to help clients unlock business value. They plan to build next-generation AI business processes, industry innovations, platform architectures, and ecosystem expansions.
Full articleSummary: The stock market was mixed on Wednesday with the Dow rising 0.4% and the S&P 500 finishing flat. The Nasdaq ended 0.2% lower. Tesla dropped due to a government probe and Intel plunged following reports of a ban on exports to China.
Full articleSummary: Analysis of brokerage recommendations for CVS Health (CVS) shows an average brokerage recommendation (ABR) of 1.98, approximating between Strong Buy and Buy, but with caution as brokerage recommendations may carry a strong positive bias. The Zacks Rank, based on earnings estimate revisions, currently rates CVS Health as a Zacks Rank #5 (Strong Sell), indicating analysts' growing pessimism over the company's earnings prospects.
Full articleSummary: Bank of America customer's TikTok video about new monthly fee requirement for checking account causing viral response.
Full articleSummary: Exodus Movement will not be listing on NYSE American as planned due to SEC still reviewing their registration statement, company to continue trading on OTCQX.
Full articleSummary: Boeing 767 cargo aircraft for FedEx made an emergency landing at Istanbul Airport after its front landing gear failed.
Full articleSummary: Honeywell International Inc. (NASDAQ:HON) shares were up 0.2% during mid-day trading on Wednesday and last traded at $197.15 following several ratings from Wall Street analysts. The company also announced its quarterly earnings data, beating expectations, and a quarterly dividend, with a dividend yield of 2.18%. Insider activity included sales by CFO Gregory P. Lewis and Director Darius Adamczyk. Institutional investors also made changes to their positions in HON.
Full articleSummary: BlackRock, Inc. (NYSE:BLK) experienced a 0.7% drop in its stock price on Wednesday and traded at $775.61. Several research firms have given the company ratings ranging from neutral to outperform, with an average target price of $845.42. The asset manager reported earnings per share of $9.81 for the quarter, surpassing estimates.
Full articleSummary: Starbucks faces dwindling sales and consumer disengagement due to the pandemic, competition from independent cafes, and labor disputes, prompting a decline in its quarterly revenue for the first time since 2020.
Full articleSummary: Wall Street's lull continued on Wednesday with a mixed close. S&P 500 finished virtually unchanged, Dow Jones rose by 0.4%, Nasdaq slipped by 0.2%. Some companies saw declines such as Uber, Shopify, Match Group, and Intel. Lyft and Reddit experienced gains. Arista Networks had the biggest gain in S&P 500.
Full articleSummary: PayPal Holdings, Inc. (NASDAQ:PYPL) experienced a 1.9% drop in share price during mid-day trading, with the stock trading as low as $64.32. Analysts have provided mixed ratings for the stock, with some maintaining 'hold' ratings while others have cut their target prices.
Full articleSummary: The Home Depot, Inc. (NYSE:HD) has $38.8b of debt as of July 2023, with $2.81b in cash, resulting in net debt of $36.0b. Despite having a large market capitalization of $303.5b, the company is managing its debt well but shareholders should keep a close eye on it due to declining EBIT growth rate.
Full articleSummary: Simon Property (SPG) closed the most recent trading day at $112.79, moving +1.69% from the previous trading session, outpacing S&P 500's daily loss. The stock is approaching its next earnings release with expected lower EPS but higher revenue compared to the prior year. Simon Property has a Zacks Rank of #3 (Hold) and is currently trading at a discount compared to its industry.
Full articleSummary: Cisco announced new AI-driven capabilities for its AppDynamics On-Premises application observability offering, empowering IT operations teams to detect anomalies faster, protect against security threats, and ensure performance of business-critical applications like SAP.
Full articleSummary: Applebee's and Chili's are launching new value burgers with deals to compete with fast food chains like McDonald's, Shake Shake, and Wendy's which have seen price hikes. Chili's introduced the 'Big Smasher' while Applebee's offers the 'Whole Lotta Burger' for under $10 in sit-down restaurants as an alternative.
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