Summary: Bank of New York Mellon Corp (NYSE:BK) reported robust fee revenue growth and solid net income increase in Q1 2024. Despite facing operational risks and competitive pressures, opportunities for expansion and technology investments are present.
Full articleSummary: Thermo Fisher Scientific Inc (NYSE:TMO) demonstrates robust financial health with increased net income despite a slight revenue dip. Recent acquisitions and strategic investments position TMO for diversified growth and enhanced market presence. Strong balance sheet and effective cash flow management underscore TMO's financial agility and resilience.
Full articleSummary: Meta spent over $30.8 million on personal security for senior executives and directors in 2023, reflecting a larger trend of increased corporate concern over the safety of key personnel.
Full articleSummary: RTX Corporation secured a $418.3 million contract to provide Stinger missile upgrades and replacements to the U.S. Army, further strengthening their position in the global missile market. The demand for missiles is expected to increase due to geopolitical tensions, benefiting RTX and its peers like Northrop Grumman (NOC), Lockheed Martin (LMT), and General Dynamics (GD). Despite a recent share price decline, RTX remains positioned for revenue growth.
Full articleSummary: Lockheed Martin (LMT) closed the most recent trading day at $461.74, moving -0.27% from the previous trading session. Analysts expect Lockheed Martin to post earnings of $7.40 per share, a year-over-year growth of 2.21%. The Aerospace - Defense industry, to which LMT belongs, has a Zacks Industry Rank of 87, putting it in the top 35% of all industries.
Full articleSummary: Medtronic plc acquired CardioInsight Technologies, Inc., a medical device company specializing in mapping electrical disorders of the heart. The acquisition is valued at approximately $93 million and aligns with Medtronic's goal to deliver breakthrough technologies for patients with atrial fibrillation and other arrhythmias.
Full articleSummary: Block, Inc. (NYSE:SQ) beats earnings expectations in Q1 2024, with reported EPS of $0.85 compared to expectations of $0.72. The company reported strong performance across Cash App and Square, with gross profit up 22% year-over-year.
Full articleSummary: Disneyland will be upgrading Great Moments with Mr. Lincoln with a $5 million budget, including replacing a platform, constructing a new turntable, and upgrading audio and visual systems.
Full articleSummary: Gilead Sciences, Inc. (NASDAQ:GILD) shares reached a new 52-week low on Friday. Several brokerages have set new price targets for GILD. The company reported quarterly earnings results surpassing analysts' expectations.
Full articleSummary: Meta, the parent company of Facebook, Instagram, Threads, and WhatsApp, is set to open an $800 million data center in Montgomery, Alabama, with an investment totaling $1.5 billion. However, the company's social media presence has generated controversy around disinformation, particularly in relation to the upcoming elections in India.
Full articleSummary: Amalgamated Bank reduced its stake in Gilead Sciences by 6.0% in the 4th quarter while several other institutional investors also made changes to their positions. Wall Street analysts have varied ratings for Gilead Sciences, with a consensus price target of $83.69. Insider activity included an insider selling 2,000 shares. Gilead Sciences stock traded down during midday trading, reaching $64.78.
Full articleSummary: Bank of America Corp's profit more than halved in Q2 as it set aside $5B for future loan losses due to tough economic conditions, but its provision expense rose only 7% compared to its peers. Shares dropped 3.3% in response to the earnings report.
Full articleSummary: Apple Inc. increased its dividend and boosted its stock buyback program, Amgen Inc. provided an encouraging update on an obesity drug, Booking Holdings Inc. beat analysts' forecasts for Q1 earnings and revenue.
Full articleSummary: Texas Capital (TCBI) reported earnings 30 days ago. Zacks.com provides research reports on major stocks including Wal-Mart, Caterpillar, and Mondelez. Wal-Mart has outperformed the S&P 500, Caterpillar shows sales improvement, while Mondelez faces revenue decline.
Full articleSummary: U.S. oil giants Chevron Corp and Exxon Mobil Inc cut spending aggressively in the third quarter to combat weak fuel demand due to COVID-19, with Exxon posting third consecutive quarterly losses while Chevron managed a slim profit. Both companies maintained their dividends despite laying off a significant portion of their workforce.
Full articleSummary: PepsiCo's robust Q3 results driven by snacks and foods business, McDonald's to reverse discouraging trend post better-than-expected Q3 earnings, Zoom Video's solid year-to-date performance due to work-from-home trend.
Full articleSummary: Apple Inc. announced quarterly results with declines in sales and net income, but shares were up 7% due to additional $110 billion in stock buybacks authorized by the board. Apple's buybacks have positively impacted EPS by reducing share count over the past 10 years by 37%.
Full articleSummary: Intel reported mixed earnings in fiscal 1Q16 with revenues rising by 8% YoY but falling 7% QoQ, surpassing EPS estimates but missing revenue estimates. The company showcased improved gross and operating margins due to cost benefits. Intel is restructuring its focus from PC-centric to cloud and IoT, similar to IBM, HP, and Microsoft.
Full articleSummary: Companies like Apple, Amgen, Booking Holdings, and Motorola Solutions experienced stock price increases due to positive developments such as dividend increases, strong earnings reports, and upbeat forecasts. Meanwhile, Expedia Group, Block Inc., and Fortinet Inc. saw declines in their stock prices, with reasons ranging from lowered financial forecasts to missed expectations.
Full articleSummary: Starbucks stock faced a 16% sell-off after a weak earnings report, but an analyst predicts a return to $100, citing historical low valuation. CEO expects slow earnings growth until 2024, but potential for turnaround by then may make current price a bargain.
Full articleSummary: The U.S. Department of Defense and Lockheed Martin Corp are close to a deal for an almost $9 billion contract for the F-35 program, bringing the price per F-35 below $100 million for the first time. Talks are ongoing for a deal on 90 planes expected to be announced soon.
Full articleSummary: PayPal users in the United States can now buy Shiba Inu (SHIB) tokens through MoonPay partnership, allowing for easy purchase and financing options using PayPal balance, debit cards, or direct bank transfers. MoonPay also supports over 110 cryptocurrencies through PayPal, with plans to expand to sell cryptocurrencies and extend services to the U.K. and the EU.
Full articleSummary: Amgen's first-quarter product sales grew 22%, company announced positive phase 2 results for obesity drug candidate maritide, and fair value estimate raised to $317 per share.
Full articleSummary: Bank of America faces backlash from customers due to account closure without consent, leading to growing distrust among the public. Specific instances of customers having their accounts closed without warning and facing difficulties in accessing their funds have led to warnings against using the bank.
Full articleSummary: Apple rose over 6.5% after announcing a $110 billion stock buyback while Amgen surged 12.79% due to excitement over its weight-loss drug. Notable losers include Expedia and Fortinet.
Full articleSummary: Berkshire Hathaway shareholders' meeting is missing Vice Chairman Charlie Munger for the first time since his death, creating space for Berkshire's other executives to shine. The company's first quarter earnings will be released before the meeting, and shareholders may get to know Ajit Jain and Greg Abel better.
Full articleSummary: The Zacks Oil and Energy Sector has been performing well, with Exxon Mobil (XOM) and Chevron (CVX) outperforming the S&P 500. XOM shows strong growth and attractive valuation levels, leading to a higher Zacks Rank compared to CVX.
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