Summary: The Federal Reserve's decision to hold off on interest rate cuts and adjust its balance sheet is likely to keep mortgage rates elevated, with analysts projecting rates between 6.5% and low-7% for the rest of the year. The Fed's move to lower its monthly cap on Treasury roll-offs could lead to a faster run-off of mortgage-backed securities (MBS) holdings, potentially causing an increase in mortgage rates.
Full articleSummary: RTX Corp. shareholders rejected three proposals recommended by the board of directors, as per a regulatory filing. The proposals included requests for a lobbying transparency report, a full value chain emission reduction plan, and a human rights impact assessment.
Full articleSummary: Caterpillar's Q4 loss widened due to charges and higher restructuring costs, despite adjusted profit beating expectations. The company slightly lowered its 2017 revenue forecast, leading to a drop in shares before the market opened.
Full articleSummary: A young boy dies in a trial for Pfizer's experimental gene therapy for Duchenne muscular dystrophy, with the cause of death being cardiac arrest.
Full articleSummary: Salesforce Inc. settles a class action lawsuit related to violations of fiduciary requirements under the Employee Retirement Income Security Act regarding its $5 billion 401(k) plan.
Full articleSummary: Eli Lilly's revenue outlook boosted by $2 billion due to confidence in increased production of weight loss and diabetes drugs, Novo Nordisk faces lower investor enthusiasm with weak sales estimates for weight loss drug Wegovy, Apple receives FDA approval for its heart-monitoring technology on Apple Watch
Full articleSummary: Google announced the Pixel 8a, featuring a 120 Hz display and Google Tensor G3 SoC with minor changes from the previous model. The phone will be priced at $499 and is available for preorders starting today.
Full articleSummary: MITRE is building a new Federal AI Sandbox powered by NVIDIA DGX SuperPOD to provide better experimentation of AI-enabled applications for the federal government. The sandbox will offer computing power for training cutting-edge AI applications in various fields.
Full articleSummary: Microsoft announced the closure of three Bethesda Game Studios and restructuring of other teams, leading to uncertainty and disappointment among fans and developers. Several beloved studios like Arkane Austin, Tango Gameworks, and Alpha Dog Games are shutting down, raising concerns about Xbox's future direction and its emphasis on profitability over creativity.
Full articleSummary: FAA opens a formal investigation into Boeing after employees falsified inspection records for some 787 Dreamliners, focusing on bonding and grounding inspections; approximately 450 aircraft potentially affected, with re-inspections ongoing.
Full articleSummary: The weight loss drug market presents opportunities for investment, with Novo Nordisk and Eli Lilly leading the way, while Pfizer faces challenges in developing its obesity drug danuglipron. Obesity is a significant global health concern with over 1 billion people considered clinically obese worldwide.
Full articleSummary: Investor sentiment has improved somewhat due to better-than-expected Q1 earnings season with many S&P 500-listed companies beating forecasts, leading to a bullish view by Citigroup towards S&P 500 fundamentals. Citigroup analysts recommend Ford Motor (F), Mobileye Global (MBLY), and Schrodinger (SDGR) as stocks to buy.
Full articleSummary: Director at General Dynamics Corp sold 2,570 shares. Insider transaction history shows a total of 10 insider sells and 0 insider buys over the past year. Stock price was $288 on the day of the sale. GF Value is $254.64, suggesting stock is modestly overvalued.
Full articleSummary: Chewy had its price target decreased by Citigroup from $18.00 to $16.00 with a 'neutral' rating. Various analysts have different ratings on the stock. Chewy stock traded down on Tuesday and has insider selling activities. Institutional investors have made recent changes to their positions in CHWY.
Full articleSummary: Competition in the AI chip market poses a threat to Nvidia's dominant position in data centers, with AMD leading in some areas and experiencing strong demand for its products. AMD's revenue growth, particularly in the data center segment, has been impressive despite modest overall revenue growth. Wall Street analysts are highly bullish on AMD stock due to its growth potential and favorable future earnings forecasts.
Full articleSummary: Blackrock Inc (BLK) was held by 9 out of the 22 most recent 13F filings for the 03/31/2024 period. Hedge funds increased their BLK holdings by 1.29% from 12/31/2023 to 03/31/2024.
Full articleSummary: Disney leads Dow Jones Industrial Average components with a 29% gain this year despite mixed financial results. The company exceeded profit targets consistently, focusing on adjusted earnings growth and improving cost efficiency.
Full articleSummary: NVIDIA ConnectX-7 OCP NIC 3.0 card offers dual QSFP112 ports for up to 200Gbps networking and supports Ethernet or NDR InfiniBand traffic. It features PCIe Gen5 x16 edge connector and high-quality optics for better performance and durability.
Full articleSummary: Kraft Heinz Company (NASDAQ:KHC) will pay a dividend of $0.40 on the 28th of June, which will result in a 4.5% dividend yield, boosting shareholder returns. The company has solid earnings coverage for the dividends and is expected to see a significant EPS growth next year. Despite lacking consistency in past dividend payments, the outlook for dividend growth looks promising due to strong earnings growth.
Full articleSummary: Kraft Heinz Company (NASDAQ:KHC) will pay a dividend of $0.40 on June 28, resulting in a dividend yield of 4.5%, boosting shareholder returns. The company has solid earnings coverage to sustain the dividend, with anticipated EPS growth of 47.6% next year. Despite lacking consistency in the past, the dividend looks likely to grow as earnings per share have been increasing at 69% annually over the past five years.
Full articleSummary: Amgen (AMGN) has been one of the most searched-for stocks on Zacks.com. The company's stock price has outperformed the Zacks S&P 500 composite and the industry average. Analysts' earnings estimates for Amgen have been slightly revised downwards for the current quarter but show a positive trend for the next fiscal year. Amgen's valuation indicates it's trading at par with its peers.
Full articleSummary: Tesla has partnered with three new companies - Costco, Sysco, and US Foods - to test its electric Semi trucks, in addition to current partner PepsiCo. These partnerships aim to fine-tune the engineering of the class 8 electric truck ahead of mass production.
Full articleSummary: Cisco Systems Inc. is preparing to report third-quarter results with expectations for a decline in adjusted earnings, following investments in boosting AI capabilities and customer experience. The company's revenue performance has been lackluster due to cautious customer spending and inventory delays.
Full articleSummary: Khosla Ventures backed a radiology startup called Rad AI with a $50 million Series B funding round led by Khosla. Rad AI offers a tool that generates reports for radiologists, aiming to reduce time spent on report documentation.
Full articleSummary: UPS CFO Brian Newman to depart from role due to personal health reasons, company evaluating candidates for successor. UPS dealing with decline in shipping volumes resulting in drop in revenue and operating profit.
Full articleSummary: Microsoft Africa Development Centre (ADC) West Africa and four game studios, including Arkane Austin and Tango Gameworks, are being shut down by Microsoft in a move to prioritize high-impact titles. ADC was launched in 2019 to tap into African innovation fields, aiming to recruit engineers and partner with local universities for digital skills development.
Full articleSummary: Google has announced the Pixel 8A, a budget-tier phone with key AI features inherited from its pricier siblings, such as Audio Magic Eraser and Best Take. The device is part of Android phone-makers' trend of infusing more AI-fueled features to stand out in the market.
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