Summary: Jefferies reaffirms its 'buy' recommendation on Lowe's Companies and raises its price target from $267 to $274, expecting pent-up demand to accelerate comparable sales and leverage fixed costs. The return of homeowners to durable goods spending, Fed's easing policy facilitating baby boomers' relocations, and slowing inflation making expensive items more affordable are cited as key factors that will unlock demand in the residential renovation sector. Jefferies relies on Lowe's initiatives to weather the storm.
Full articleSummary: FedEx introduces a new logistics and supply chain visibility solution called FedEx Surround, integrating AI and SenseAware ID technology for enhanced control and predictive analytics.
Full articleSummary: Developers of a controversial proposed Penfield project, centered around a Costco Wholesale store, have withdrawn the initial proposal due to opposition and zoning concerns. They plan to review feedback and come up with a new proposal in the future.
Full articleSummary: B of A Securities analyst downgraded American Express stock from Buy to Neutral with limited incremental upside due to subdued billings volume growth and premium valuation. Several luxury brands and travel companies have reduced guidance due to challenging spending backdrop. Analyst sees potential in credit-sensitive issuers like Synchrony Financial and Capital One Financial Corp.
Full articleSummary: Ford Motor Co. is scaling back the production of fully electric three-row SUVs due to battery costs, focusing on gas-electric hybrids, electric pickup trucks, and a commercial van instead. Kentucky remains a focal point for the company's future plans with the launch of multiple gas vehicles.
Full articleSummary: Amazon is offering a significant discount on the Apple 2024 MacBook Air with a rare $249 price cut, including a clickable online coupon.
Full articleSummary: Morgan Stanley executive James P. Gorman to chair succession planning committee at Walt Disney Co. in search for next CEO, committee includes CEO's from General Motors and Lululemon. Internal candidates are being mentored by current CEO Bob Iger.
Full articleSummary: Starbucks' new CEO Brian Niccol is allowed to commute from his home in Southern California to the company's headquarters in Seattle using corporate jet. He will also have a small remote office in California and use Seattle as his main office three days per week.
Full articleSummary: Wells Fargo to cut 70 jobs in its Chief Operating Office Global Operations business center in Denver.
Full articleSummary: Starbucks is relying on its fall product lineup, including the pumpkin spice latte, to boost store sales after ousting its CEO. The company is also introducing new apple beverages and a new CEO from Chipotle. Investors reacted positively to the CEO announcement.
Full articleSummary: Wells Fargo & Co announced the sale of their commercial real estate loan servicing business to Trimont as part of efforts to streamline operations. Additionally, the company hired Fadi Aboosh to strengthen their Financial Sponsors Group. Despite a slight dip in stock price, YTD performance shows promising growth potential.
Full articleSummary: The U.K. competition watchdog has closed investigations into Apple and Google's mobile app ecosystems due to administrative priorities, but plans to use new competition powers in the future. The new digital markets regime is expected to allow special abuse controls on tech giants like Apple and Google to ensure fair and competitive app ecosystems.
Full articleSummary: Microsoft released a security patch to fix a two-year-old vulnerability in the GRUB bootloader, which unfortunately caused Linux-based systems to fail to boot on computers with dual operating systems due to a security policy violation error message.
Full articleSummary: Target (TGT) CEO Brian Cornell emphasizes the competitiveness in the retail sector and denies engaging in price gouging to boost profits. The company's strong quarterly earnings were partly attributed to price cuts on almost 5,000 everyday items.
Full articleSummary: Harris Parker, Co-Founder and CTO of Slack and Director at Salesforce, sold 4,200 shares of Salesforce Common Stock totaling $1,104,488.
Full articleSummary: Boeing facing more trouble, BMW issuing a recall, Starbucks bringing back Pumpkin Spice Latte
Full articleSummary: AI technology using AI-based deterrent system has successfully prevented nearly 6,000 deer from crossing rail routes in England, reducing potential harm to deer and preventing delays for passengers and trains. This technology is being praised for its positive outcome, with plans to expand its implementation in the future.
Full articleSummary: Lockheed Martin's SR-71 Blackbird parts used in the Urwerk EMC SR-71 watch limited to 10-units that costs $175,000 USD.
Full articleSummary: Boeing and BAE Systems are collaborating to upgrade the fly-by-wire flight control computers on F-15EX Eagle II and F/A-18E/F Super Hornet, enhancing processing power, cybersecurity, and future technology integration.
Full articleSummary: Boeing faces safety concerns with cockpit seat inspections on 787 Dreamliners and structural part issues on new version of 777 jetliner, resulting in required inspections and halting test flights respectively.
Full articleSummary: Britain's competition watchdog closes investigations into Apple and Google's app stores, awaiting new laws governing digital markets.
Full articleSummary: Boeing's 777X aircraft faces another problem during testing, potentially delaying its 2025 launch date and adding to the company's ongoing safety and quality concerns.
Full articleSummary: Starbucks announces the arrival of its fall menu, including the Pumpkin Spice Latte and other autumnal treats, earlier than previous years. The menu also features new offerings like the Iced Caramel Apple Cream Latte and Iced Apple Crisp Nondairy Cream Chai, alongside returning favorites like the Pumpkin Cream Cold Brew.
Full articleSummary: FedEx (NYSE:FDX) shares traded in the green with eighth consecutive days of gains, rose about 12.1% in the last 12 months, YTD up about 15%. Seeking Alpha's Quant Ratings hold rating with a score of 3.25 out of 5; Wall Street analysts mostly recommend Buy or Hold. Positive commentary on profitability improvement and potential for capital appreciation.
Full articleSummary: Lucid Motors CEO is bullish on the Gravity SUV, expects it to significantly increase sales and believes their tech is ahead of Tesla's.
Full articleSummary: Warren Buffett, chairman and CEO of Berkshire Hathaway Inc., is a legendary investor known as the 'Oracle of Omaha'. He has made significant philanthropic contributions through initiatives like The Giving Pledge. Buffett has adjusted his will to create a new charitable trust overseen by his children.
Full articleSummary: Genesis Energy is halfway through building its new billing and CRM platform, aiming to migrate customers by 2025. The finance and wholesale and trading programmes are following the upgrade.
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