Summary: Raytheon Technologies (RTX) closed at $84.90 in the latest trading session with a +0.99% move from the prior day, showing a stronger performance compared to the S&P 500's and Nasdaq's gains. The company is anticipated to report positive earnings growth in the upcoming release, with both EPS and revenue expected to increase. Analysts suggest considering recent estimate revisions to gauge the company's outlook.
Full articleSummary: Bank of America (BAC) has shown a strong streak of beating earnings estimates in its recent reports, with an average surprise of 33.04% in the last two quarters. The company has an Earnings ESP of +0.46% and a Zacks Rank #3 (Hold), indicating a potential for another earnings beat in the upcoming report.
Full articleSummary: The rise of GLP-1 agonists in pharmaceutical industry is fueling growth for Eli Lilly with its diabetes drug Mounjaro and GLP-1 medication Zepbound, positioning the company as a strong competitor to Novo Nordisk. Lilly's success in GLP-1 treatments outside of diabetes and obesity applications is proving promising for future growth.
Full articleSummary: Cisco Systems Inc. agreed to buy Splunk Inc. in a deal valued at about $28 billion, marking Cisco's biggest acquisition yet as it makes a major move into software and artificial intelligence-powered data analysis.
Full articleSummary: Boeing is finally poised to launch astronauts to the International Space Station for NASA after years of delays and stumbles. The upcoming launch will be the first crewed flight of Boeing's Starliner capsule, showcasing the company's progress in space travel. The astronauts aboard the capsule are experienced NASA pilots who will conduct tests during their weeklong stay at the space station.
Full articleSummary: Apple is planning big updates with new AI features for iOS 18, utilizing its own Large Language Model (LLM) system and Ajax framework, as well as partnering with Google and OpenAI for generative AI models. Apple aims to differentiate with a focus on privacy and a combination of hardware, software, and services integration. The AI features rumored for iOS 18 include improvements to Siri, Apple Music, Messages, Xcode, Safari, and more.
Full articleSummary: Microsoft has rolled out a new update to its Edge browser, including a dedicated internet speed test alongside security and stability fixes.
Full articleSummary: Coca-Cola reported strong quarterly results with revenues beating analyst predictions by 2.4% and EPS coming in 8.5% above expectations. Analysts expect revenues in 2024 to be US$45.7b, with per-share earnings expected to increase to US$2.76.
Full articleSummary: Microsoft updated its Azure OpenAI Service code of conduct to globally prohibit law enforcement from using real-time facial recognition on mobile cameras, with exemptions for stationary cameras in controlled environments. Technology developed by US company Axon using OpenAI's Chat GPT4 raised concerns about the use of Microsoft-backed AI in policing.
Full articleSummary: Eli Lilly and Novo Nordisk stocks surged due to successful obesity drugs, while Pfizer's stock declined amidst disappointing results of its obesity drug.
Full articleSummary: Companies like Eli Lilly and Novo Nordisk have seen significant stock price increases due to the success of their obesity drugs, with Lilly's shares quadrupling and Novo's tripling over the last three years. Meanwhile, Pfizer's stock has been declining as its sales of COVID-19 products decrease. Pfizer's hopes for its GLP-1 agonist, danuglipron, were dashed after disappointing results from a phase 2 study.
Full articleSummary: BNY Mellon CEO Robin Vince mentioned that client demand for crypto was the driving force behind launching a crypto custody offering, with 75% of clients investing or considering investing in digital assets.
Full articleSummary: BILL Holdings (BILL) has been a sensational IPO with impressive revenue growth, but facing stiff competition from Intuit leading to a substantial stock price decline. Despite strong fundamentals and profitability, the overvaluation and competitive threats suggest a bearish outlook for BILL.
Full articleSummary: Eli Lilly's stock has been performing well due to high sales of its diabetes-turned-weight-management treatment. Barclay's raised price target to $913 per share, indicating a potential 17% climb in the next 12 months. Wall Street analysts remain bullish on the stock.
Full articleSummary: Nvidia stock has experienced significant gains over the past five years thanks to its dominant position in the AI chip market, with an estimated 94% control.
Full articleSummary: Warren Buffett's Berkshire Hathaway reduced its Apple stake by around 13% in the first quarter, implying about 790 million shares worth $135.4 billion. This is the second consecutive quarter Berkshire has trimmed its stake in the iPhone maker.
Full articleSummary: Nvidia introduces a new script to simplify the integration of its GeForce Now cloud gaming service with Valve's Steam Deck, including automatic installation of Google Chrome, controller settings adjustments, and a streaming overlay feature.
Full articleSummary: Meta employees have criticized the company's censorship of support for Palestinians amid the Israel-Hamas conflict, leading to demands for the deletions of internal posts to stop.
Full articleSummary: Wedbush analysts cut their Q3 2024 earnings per share estimates for Starbucks to $0.94, down from $1.15. Several other analysts downgraded Starbucks' ratings and price targets. Starbucks trading down by 2.4%. Starbucks reported $0.68 earnings per share, missing estimates of $0.79.
Full articleSummary: Former PayPal President David Marcus argues that Bitcoin is poised to become the native currency for AI transactions, generating optimism and speculation within the crypto space. Analyst Peter Brandt warns of a potential 50% decline but also suggests a positive long-term outlook for Bitcoin.
Full articleSummary: Booking Holdings Inc. reported strong Q1 2024 results exceeding expectations with revenue of $4.4 billion, adjusted EBITDA of $900 million, and adjusted EPS of $20.39. They highlighted growth in room nights, direct booking, and alternative accommodations. Investments in AI and the connected trip vision show promising potential for future growth. Fixed OpEx has increased to support strategic expansions but intended to target operating leverage from 2025 onwards.
Full articleSummary: Tesla has introduced a new Long Range Rear-wheel drive variant of the Model Y, while axing the previous standard range RWD model, providing a larger battery with a 320-mile range for an additional $2k.
Full articleSummary: Coca-Cola reported strong first-quarter results, with revenues surpassing analyst predictions and statutory EPS beating estimates. Analysts' consensus estimates for 2024 revenue and EPS align with the company's performance, indicating steady business prospects. Despite expectations of revenue decline, analysts maintain a neutral view towards Coca-Cola, with a consensus price target of US$66.96.
Full articleSummary: A landmark antitrust trial between the Department of Justice and Google is coming to an end, with both parties delivering closing arguments. Google is accused of monopolizing the Internet search market, sidelining competitors, and harming consumers. The decision on this case may not only change the way Google does business, it could lead to a breakup of the company.
Full articleSummary: Boeing's Starliner capsule is set to blast off to the International Space Station with NASA astronauts Suni Williams and Butch Wilmore on its first crewed mission after facing several setbacks in its development and testing process. The success of this mission is crucial for Boeing's reputation and NASA's plan for a second option for human space flight.
Full articleSummary: Federal regulators are examining Capital One's acquisition of Discover Financial Services on various competitive dimensions. The deal has horizontal and vertical merger implications, and regulators may find reasons beyond antitrust concerns to block it, while also considering potential effects on the broader economy, industry trends, credit and debit fees, compliance issues, and the combined company's ability to handle financial stress.
Full articleSummary: A Boeing whistleblower, Joshua Dean, dies after a sudden infection, making him the second aviation industry whistleblower to die in 2024. Dean raised concerns over safety issues in the aviation manufacturing industry, specifically at Spirit AeroSystems, a Boeing supplier.
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