Summary: Gold price fell back on Tuesday despite global stock markets rising, crude oil holding near 2-month lows, and silver prices touching a 7-session high. Central banks, like the People's Bank of China and the National Bank of Poland, continued to add gold to their reserves.
Full articleSummary: The FDA authorized Gilead's potential Covid-19 treatment, remdesivir, for patients with severe Covid-19, leading to a 1.8% increase in Gilead's stock in after-hours trade. Clinical trial results showed the treatment shortened Covid-19 recovery times and reduced mortality rates.
Full articleSummary: Medtronic plc (NYSE:MDT) shares traded up 0.3% on Tuesday with several analysts updating their price targets and ratings for the stock. The company also recently announced a quarterly dividend and key insiders sold significant amounts of shares. Hedge funds have also been actively buying and selling MDT shares.
Full articleSummary: BNY Mellon has appointed Kunio Watanabe as Japan country executive, a senior executive from Nomura, to lead its Japan business.
Full articleSummary: The news provides trading plans and technical analysis for RTX Corporation. It mentions buying levels, stop losses, and resistance levels for different trading strategies.
Full articleSummary: Philip Morris International Inc. PM agreed to acquire Fertin Pharma A/S in a $820 million transaction to bolster its smoke-free future goals by expanding beyond nicotine products and offering well-being solutions. The buyout is expected to enhance Philip Morris' innovation capabilities, particularly in oral delivery platforms, and accelerate its presence in the modern oral category.
Full articleSummary: Goldman Sachs raised Nvidia's price target to $1,100 from $1,000, citing 22% upside potential, driven by positive EPS revisions, solid growth trends, and increased AI spending by tech giants. The bank believes Nvidia will maintain its industry dominance despite growing competition.
Full articleSummary: Meta's AI boss announced investing $30 billion in NVIDIA AI GPUs for AI training, with new Llama 3 models forthcoming. Meta has now 1 million AI GPUs in total. Other companies like OpenAI and Microsoft are also heavily investing in AI GPUs.
Full articleSummary: Red Hat is announcing product updates and new collaborations with chipmakers Intel, AMD, Nvidia, and AI specialist Run:ai at its annual Summit in Denver.
Full articleSummary: Disney's second quarter earnings showed profit in streaming services but weak parks and cruise guidance. Disney stock slid due to disappointment in guidance, but a wealth manager believes the company had a solid quarter and is still trending higher year-to-date. The company won a proxy battle with activist investor Nelson Peltz.
Full articleSummary: Starbucks shares have dropped over 17% in value due to a sales slump, partially attributed to a cautious consumer base, post-pandemic challenges, and backlash related to the Israel-Hamas war. Consumer spending overall has slowed with inflation and high borrowing costs, impacting other restaurant brands like McDonald's, KFC, and Pizza Hut.
Full articleSummary: Australian pension fund UniSuper experienced a week-long systems outage due to a combination of rare issues at Google Cloud, resulting in an inadvertent misconfiguration and a software bug impacting secondary systems. Restoration works are expected to begin soon.
Full articleSummary: Nvidia's stock (NVDA) closed at $905.54, showing a -1.72% movement compared to the previous day. The company is expected to announce its earnings on May 22, 2024, with forecasted EPS of $5.49, a significant increase from the prior year. Nvidia currently holds a Zacks Rank of #2 (Buy), suggesting analyst optimism.
Full articleSummary: Researchers at Indiana University School of Science found that cover crops have a net-positive impact on crop yield, increasing it by 2.6% globally, with leguminous cover crops like peas and clover showing a 9.8% yield increase. The study aims to address concerns about potential yield loss in main crops and boost adoption of cover crops in agriculture.
Full articleSummary: Apple has unveiled the new iPad Pro line-up featuring a new OLED display technology with two OLED panels fused together to deliver high brightness levels for SDR and HDR content.
Full articleSummary: Cisco Systems (CSCO) hit a new 52-week high and delivered strong financial results in the last quarter, driven by successful endeavors including 'Internet of Everything' campaign and Intercloud service. The company also announced cost-saving measures and a planned acquisition of CloudLock for cloud security solutions.
Full articleSummary: Recent survey indicates high recognition of advantages of AI among Indian service workers, Salesforce reveals AI lowers costs, 93% of Indian service companies plan to increase AI spending this year.
Full articleSummary: Bill Gates and Warren Buffett engaged in a heated debate over the merits of Bitcoin, with Gates initially praising Bitcoin in 2014 but shifting his stance by 2018 to agree with Buffett's criticism of the cryptocurrency as a 'non-productive asset' and a risky investment.
Full articleSummary: Cisco has introduced new advancements in its Cisco Security Cloud to strengthen protection in the AI-driven security platform, address evolving cyber threats, and enhance user protection with continuous identity security features.
Full articleSummary: Pfizer has paused enrollment in a Phase III trial for its DMD gene therapy candidate after the sudden death of a young boy who received the treatment last year. This is the second death associated with the gene therapy during a clinical study. Pfizer is reviewing data with regulators and study committees.
Full articleSummary: Meta Platforms, the parent company of Facebook and Instagram, is expanding its generative AI ads products to offer tools that can automatically create variations of images and overlay text atop them. The tool will launch without watermarks, and Meta plans to share labeling guidelines by the tool's global rollout, likely by year-end. Advertisers will have the option to generate different image versions and overlay text using the tool.
Full articleSummary: The news discusses the ownership structure of Gilead Sciences, Inc. including institutional ownership, insider ownership, and general public ownership. Institutional investors hold a majority of the company's stock, with BlackRock, Inc. as the largest shareholder. Insiders own under 1% of the company, and the general public holds a 19% stake.
Full articleSummary: SoundHound AI (NASDAQ: SOUN) saw its shares plummet 28% in April after announcing plans to sell $150 million worth of stock, leading investors to react negatively to the move. The buzz around artificial intelligence (AI) stocks is also fading, impacting SoundHound's stock performance.
Full articleSummary: General Motors is reaching out to students affected by Tesla's recent internship cancellations, offering them opportunities to join the company. GM has a history of hiring former Tesla employees, including high-ranking executives.
Full articleSummary: Bernstein analysts are confident that Bitcoin will reach $150,000 per coin by mid-2025, supported by a shift to structurally-driven demand, positive market dynamics, and significant cash inflows into Bitcoin ETFs.
Full articleSummary: Technical analysis and trading plans have been provided for United Parcel Service Inc. (UPS) with both buy and short strategies based on support and resistance levels.
Full articleSummary: The U.S. Department of Justice has asked for more details on CVS Health Corp's proposed $8 billion deal to buy Signify Health, hinting at a longer deal investigation. Large mergers in the healthcare sector are facing intense antitrust scrutiny.
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