Summary: Kraft Heinz is seeking a 75% property tax break on new equipment for its Columbia plant on Waco Road as part of a $92 million expansion plan to 'decarbonize' the facility and reduce its global carbon footprint to net zero by 2025.
Full articleSummary: Dow Jones on pace for sixth positive session in a row while S&P 500 win streak is in jeopardy, Broadcom and Starbucks among top performers, Barclays notes sell-off in Disney as overdone. Earnings reports from several companies including Arm Holdings and AirBnB are awaited.
Full articleSummary: Apple's promotional video for the iPad Pro featuring creative tools being crushed has sparked concern about AI replacing human creativity.
Full articleSummary: Fed's hawkish remarks on higher-for-longer rates lead to slight declines in major indices, Uber crashes on missed earnings, energy sector weakens. Market sentiments turned bearish on Wednesday.
Full articleSummary: Pfizer Inc. has agreed to settle more than 10,000 cases related to hiding cancer risks of Zantac heartburn drug, contributing to significant market value losses for various Zantac makers in 2022.
Full articleSummary: Emerson Electric Co. EMR reported strong Q2 fiscal 2024 results, beating both top and bottom line estimates. The company's net sales increased 17% year over year and the adjusted earnings per share increased by 25% year over year. EMR revised its FY24 outlook, expecting higher sales growth and earnings per share.
Full articleSummary: GE Aerospace completes next series of testing on XA100 adaptive cycle engine to advance future combat aircraft technology, additional data to inform NGAP effort by U.S. Air Force, bipartisan support for development ensures timely delivery of performance needed for U.S. air superiority.
Full articleSummary: Charles Schwab Investment Management Inc. raised its position in Medtronic plc by 0.9% during the 4th quarter, increasing its ownership to 11,089,400 shares worth $893,352,000. Several other hedge funds also bought shares of Medtronic. Insiders, EVP Michael Marinaro and EVP Sean Salmon, sold shares of Medtronic recently. Medtronic's stock traded down 0.5% on NYSE with a current price of $81.51.
Full articleSummary: Target is offering a 4-Pack of Martini Glasses for $15, very similar to a Williams Sonoma set priced over 5 times higher.
Full articleSummary: Anti-vaxxers are calling for Pfizer and Moderna to withdraw Covid vaccines amidst safety concerns; AstraZeneca voluntarily withdraws its own vaccine; AstraZeneca's shares rise record high after announcement; Company has seen doubling of share value since March 2020.
Full articleSummary: Starbucks is offering 50% off a handcrafted drink every Friday in May from 12-6 pm for reward members via their app.
Full articleSummary: Google's DeepMind AI unit has upgraded its AlphaFold software to predict the 3D structure of proteins, as well as other biological molecules like DNA and interactions between antibodies and disease organisms. The software, which was previously focused on proteins, now offers broader capabilities including modeling DNA, RNA, and metal ions.
Full articleSummary: Wilbanks Smith & Thomas Asset Management LLC reduced its position in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Analysts have given mixed ratings on JPMorgan Chase & Co. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Moderate Buy” and an average price target of $192.05. JPMorgan Chase & Co. last announced its quarterly earnings results on April 12th, beating the consensus estimate. The company also increased its quarterly dividend.
Full articleSummary: Apple released a controversial ad titled 'Crush!', featuring an industrial press literally crushing various objects into the new iPad Pro, sparking criticism from Hollywood and creative industries.
Full articleSummary: Pfizer has agreed to settle over 10,000 personal-injury claims from Zantac users, following Sanofi's lead. Other companies facing Zantac litigation include GSK and Boehringer Ingelheim. Federal litigation claiming Zantac causes cancer was rejected by a Florida district judge.
Full articleSummary: Google has been experiencing internal strife despite strong business growth and financial performance, with employees expressing concerns over compensation, layoffs, lack of trust, and investment priorities.
Full articleSummary: Disney Advertising partnered with Walmart Connect to allow advertisers to target Disney's streaming platforms using Walmart's shopper data. This agreement aims to offer more accurate audience targeting and clearer sales attribution using Disney's Audience Graph and Walmart's purchase data.
Full articleSummary: Tesla, despite Elon Musk's previous criticism of lidar technology, spent around $2 million on lidar last quarter making it the largest customer for lidar manufacturer Luminar, which led to more than 10% of its revenue.
Full articleSummary: 1. Some automakers consider removing AM radio from cars due to interference caused by electric motors. Ford initially planned to stop putting AM radio in new vehicles but changed its decision after pressure from broadcasters and lawmakers. 2. Intel unveiled its Gaudi 3 GPU to compete with Nvidia's H100 GPU, targeting the AI sector. 3. Investors hoping for a Fed rate cut should be cautious as history shows that monetary easing cycles can negatively impact the stock market.
Full articleSummary: Cable telecom stocks Comcast (CMCSA), Charter Communications (CHTR), and Shenandoah (SHEN) rallied on Wednesday following news of a potential revival of the Affordable Connectivity Program (ACP) through a bipartisan amendment to the 2024 FAA Reauthorization Act. The amendment would provide funding towards the ACP and 'rip and replace' equipment from select Chinese telecom providers.
Full articleSummary: Aadhar Housing Finance, backed by BlackRock, opened its IPO for public subscription with strong demand and premium in grey markets. IPO price band set at Rs 300-315 per share. The company aims to raise Rs 3,000 crore from the IPO to meet capital requirements for lending and corporate purposes.
Full articleSummary: President Joe Biden lauds Microsoft's $3.3 billion investment in Mount Pleasant data center, contrasting it with failed Foxconn deal from the Trump era. Biden attributes the success to his economic growth agenda, touting creation of 2,000 permanent jobs and emphasizing promise-keeping.
Full articleSummary: Charles Schwab Investment Management Inc. increased its holdings in Danaher Co. (NYSE:DHR) by 2.6% in the fourth quarter, owning about 0.50% of Danaher worth $860,292,000. Several other institutional investors and hedge funds have also made changes to their positions in the company. Danaher recently announced a quarterly dividend of $0.27 per share, with a dividend yield of 0.43%. Insider transactions also took place, with a director and a senior vice president selling company shares. Analysts have given Danaher stock a variety of ratings, with an average rating of "Moderate Buy" and a consensus target price of $267.31.
Full articleSummary: Wells Fargo & Co. appoints Fernando Rivas as senior executive vice president and co-chief executive of its corporate- and investment-banking unit, building up its deal-making presence with addition of 50 senior bankers and traders in the past four years.
Full articleSummary: Google and Samsung have introduced new midrange phones, Pixel 8A, and Galaxy A35 5G respectively, targeting a more affordable market segment by offering premium features in a budget-friendly package, with differences in display size, processor, cameras, battery capacity, storage options, and software support.
Full articleSummary: Intel's sales affected by revoked export licenses for a Chinese customer, leading to a hit on revenue for the second quarter. Qualcomm also reported one of its licenses for Huawei had been revoked.
Full articleSummary: NDP Leader Jagmeet Singh criticises federal Liberals for giving millions to Costco and Loblaw for energy-efficient appliances.
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