Summary: Apple releases four new iPads, featuring iPad Pro and iPad Air with gyroscope-equipped Pencil Pro accessory and improved display technology, targeting graphic arts and creative work. The new models are expensive but appealing for users with specific needs.
Full articleSummary: Bank of New York Mellon Corp. plans to cut around 3% of its workforce, joining other Wall Street firms in trimming headcount to cope with turbulent markets. BNY Mellon reported a 38% drop in fourth-quarter profit to $509 million.
Full articleSummary: Pfizer reported a patient death due to cardiac arrest in a gene therapy study for Duchenne muscular dystrophy. The company is pausing dosing in a specific portion of another late-stage study but is continuing with other ongoing trials for the therapy candidate.
Full articleSummary: Tesla Semi program appears to be ramping up with two more big customers, Walmart and Costco, spotted using the electric trucks after serious delays in production.
Full articleSummary: Apple introduces its new powerful M4 chip with advanced AI and machine learning capabilities, featuring improved CPU and GPU performance, upgraded neural engine, and support for dynamic caching, ray tracing, and mesh shading.
Full articleSummary: Billionaire investors began cashing in on Nvidia bets due to overhyped stock, other AI-related companies also vulnerable to profit taking.
Full articleSummary: Home Depot (HD) closed the latest trading day slightly down but is expected to release its earnings report with a year-over-year decline in earnings and revenue. Analysts have made recent adjustments to estimates, resulting in a Zacks Rank of #4 (Sell) for Home Depot.
Full articleSummary: Boeing is under investigation by the U.S. Federal Aviation Administration for falsifying inspection records on certain 787 Dreamliner planes at a South Carolina plant. The company is taking corrective action, but this may slow down jet deliveries and impact planes already in service.
Full articleSummary: A young patient died due to cardiac arrest after receiving Pfizer's gene therapy in a trial for Duchenne muscular dystrophy. The gene therapy is also being tested in another study on younger boys. Pfizer is reviewing the data to understand the potential cause of the incident.
Full articleSummary: Gap Inc. appoints Fabiola Torres, former PepsiCo executive, as global chief marketing officer to oversee marketing at the Gap division amid a series of executive changes at the company. The company continues to make shifts following the appointment of Richard Dickson as president and CEO.
Full articleSummary: JPMorgan Chase & Co. and affiliates have ceased to be substantial holders in Alterity Therapeutics Ltd., ending a significant investment relationship that began before March 2024.
Full articleSummary: JPMorgan Chase & Co. (NYSE:JPM) rose 0.5% on Tuesday after multiple analyst upgrades and a positive earnings report with a dividend increase. Insiders have been selling shares, while institutional investors have been actively trading the stock.
Full articleSummary: The Dow Jones Industrial Average and the S&P 500 closed higher on renewed expectations of a Federal Reserve interest rate cut. Dow rose for the fifth straight session despite a decline in Disney stock. Corporate earnings are stronger than forecast, contributing to bullish sentiment in the market.
Full articleSummary: Comparison of investment merits between Costco and Home Depot, analyzing business models, market share, revenue streams, and valuation to determine which stock should be in the portfolio.
Full articleSummary: Costco store in Ottawa has implemented a digital card scanner for member entry to crack down on shoppers who have not paid a membership fee. The move is likely aimed at reducing non-member access and ensuring the benefits are enjoyed by legitimate members. Costco's scanning system seems to resonate with a similar initiative being tested in the United States.
Full articleSummary: U.S. Capital Wealth Advisors LLC reduced its holdings in MetLife by 88.3% in the 4th quarter, selling 72,470 shares. Several other large investors have recently bought shares of MetLife. Insider selling by EVP Bill Pappas and insider buying and selling activities were reported. Research firms like Wells Fargo, Goldman Sachs, Morgan Stanley, UBS Group, and Keefe, Bruyette & Woods provided their rating updates on MetLife.
Full articleSummary: Investors are encouraged to consider businesses to invest in by thinking like consumers and reflecting on where they shop. Two top retail stocks that are highlighted are Costco and Home Depot. While Costco boasts a unique membership-based business model with strong competitive advantages, Home Depot, as the leader in the home improvement industry, stands to benefit from solid industry tailwinds fueled by housing market dynamics.
Full articleSummary: M&T Bank Corp decreased its holdings in Bank of New York Mellon during the fourth quarter, while other institutional investors have been buying and selling shares of the company. The stock price of Bank of New York Mellon decreased by 0.1%. Insiders have been actively selling shares of the company. Analysts have provided a range of target prices and ratings for BK stock.
Full articleSummary: Nvidia (NASDAQ: NVDA) shares tumbled 10.7% but recovered to finish down 1.7% after billionaire investor Stanley Druckenmiller mentioned cutting his stake due to recognizing the stock's value being fully recognized by the market.
Full articleSummary: Money market fund assets decreased by $17.6 billion in April, but increased by $694.3 billion over the past 12 months. Major gains in assets were observed in companies like Goldman Sachs, BlackRock, JPMorgan, and Morgan Stanley. On the other hand, companies like Fidelity, American Funds, Vanguard, and SSGA saw declines in assets.
Full articleSummary: United Parcel Service (UPS) shares experienced a slight 0.3% increase during trading on Tuesday, with the stock reaching a high of $147.75 and ending at $147.08. Several Wall Street analysts have provided mixed ratings and price targets for UPS stock. The company recently announced an EPS of $1.43 for the quarter, surpassing analysts' expectations by $0.10. UPS also declared a quarterly dividend of $1.63 per share.
Full articleSummary: Double-blind, randomized phase 3 clinical trials showed that Tirzepatide, commercialized as Zepbound, led to a 63% mean reduction in obstructed breathing events per hour in patients with moderate to severe obstructive sleep apnea. It also resulted in weight reduction and was well tolerated with mild adverse events.
Full articleSummary: A rat infestation at a McDonald’s restaurant in Oakland has led to a walkout by workers and suspension of operation by health inspectors. Inspectors found evidence of rodents in the kitchen. The restaurant is closed until violations are corrected and approved by health officials.
Full articleSummary: Welch & Forbes LLC reduced its stake in Medtronic plc by 17.8% in the 4th quarter, while several other large investors increased their holdings. Medtronic's latest earnings report beat expectations, and the company also announced a quarterly dividend. Insider transactions involved selling of company's stock by executives. Analysts have set various price targets for MDT stock.
Full articleSummary: Danaher Corporation is an industrial and technologic group focused on medical equipment and professional instruments of analysis, with net sales spread across the United States, China, and other regions.
Full articleSummary: Meta Platforms announced new AI capabilities for advertising, enabling advertisers to create copy and images inspired by original content, with a plan to analyze past advertising campaigns to mimic brand tone. Global rollout expected by end of 2024.
Full articleSummary: Boeing is under scrutiny after whistleblower deaths and investigation, but the company is publicly supporting employees who raise safety concerns, despite contradicting testimonies by whistleblowers in a Senate hearing.
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