Summary: Climate activists marched in Albany demanding big banks like Chase Bank, TD Bank, and Bank of America to stop funding fossil fuel projects. The State Comptroller of New York announced restrictions on funding for oil and gas companies not transition-ready. However, activists believe more legislative action is needed for a full transition to renewable energy.
Full articleSummary: Warren Buffett to attend his 60th Berkshire Hathaway shareholder meeting in Nebraska, with Vice Chairman Greg Abel replacing Charlie Munger who passed away last year. Shareholders will vote on directors and proposals, along with festivities and merchandising.
Full articleSummary: Cloudflare, Inc. (NYSE:NET) reported strong Q1 2024 earnings, beating expectations with an EPS of $0.16 compared to the expected $0.1318. The company achieved revenue of $378.6 million, up 30% year-over-year, with 67% of revenue coming from large customers.
Full articleSummary: Cisco's Outshift is focusing on innovation by exploring emerging technologies such as cloud native application security, GenAI, quantum networking, and more. Outshift aims to address current challenges while preparing for future advancements in technology through a venture-based approach, developing solutions for customers by leveraging emerging technologies. The team consists of diverse talents who work collaboratively to drive innovation with a focus on solving real-world business problems.
Full articleSummary: Harvest US Bank Leaders Income ETF USD shares closed higher at $13.23 with a 0.53% gain from the previous day. The TSX Composite, S&P 500, Dow Jones Industrial Average, and Nasdaq Composite closed with positive gains. Harvest US Bank Leaders Income ETF USD is listed on the TSX under the ticker HUBL-U.
Full articleSummary: General Dynamics' Land Systems unit secured a $25.6 million contract for the production of the MK 46 MOD 2 Gun Weapon System, which is expected to drive growth for the company. The global artillery system market is projected to reach $13.94 billion by 2022, benefiting defense giants like General Dynamics. Shares of General Dynamics have gained 3.4% in the past year.
Full articleSummary: IBM agrees to sell its weather business to Francisco Partners, retaining its sustainability software business. The sale includes The Weather Company's consumer-focused assets and enterprise offerings for industries like media and aviation.
Full articleSummary: IBM is facing antitrust issues related to its mainframe business, reminiscent of a previous antitrust lawsuit in the 1970s under Ronald Reagan's justice department.
Full articleSummary: Major League Baseball and Nike announced uniform adjustments for players, including larger lettering on jerseys and individual pant customization, following complaints about fit and look from players during spring training. Nike is also working on solutions for color discrepancies and sweat-related discoloration.
Full articleSummary: ExxonMobil partners with Synthetic Genomics to research and develop next-generation biofuels from photosynthetic algae.
Full articleSummary: Coca-Cola updated the recipe for its Fanta Zero Sugar soft drink, replacing aspartame with various sweeteners like cyclamates, acesulfame-K, sucralose, steviol glycosides, and neohesperidine DC, leading to negative reviews from fans. The new version has been released in stores nationwide in the UK and Ireland.
Full articleSummary: Poppi, a prebiotic soda maker, is not engaged in acquisition talks with larger beverage companies and is focused on growth. The company has posted triple-digit growth in recent years, has topped $100 million in sales with a strong customer repeat rate, and is seen as an acquisition target by larger beverage companies.
Full articleSummary: Citigroup Inc has started covering travel expenses for employees who go out of state for abortions due to new restrictions in Texas and other places, making it the first major U.S. bank to do so. This new policy is in response to changes in reproductive healthcare laws.
Full articleSummary: NVIDIA is expected to release its Blackwell DGX GB200 AI servers by 2025, paving the way for a gold rush in the industry with massive efficiency improvements and architectural advancements. Foxconn and Quanta are poised to benefit greatly from the server supply, with Foxconn expecting a significant revenue increase by 2025.
Full articleSummary: Charter Communications is in talks to acquire Bright House Networks LLC, a cable company worth over $10 billion with a significant market presence in Florida. Charter's shares surged 7 percent on this news.
Full articleSummary: Apple will host a product announcement event on May 7 focusing on new iPads and iPad accessories, potentially revealing significant redesigns for the iPad Pro sizes with upgraded displays.
Full articleSummary: Mixed outlook for earnings season with some brands like KFC and Pizza Hut facing declines, while Wingstop and Chipotle are experiencing gains. McDonald’s and Starbucks had tough quarters with decreased performance. Denny’s reported that the minimum wage increase in California helped retention at the restaurant chain.
Full articleSummary: Microsoft announced plans to invest $2.2 billion in Malaysia over the next four years to bring AI and cloud infrastructure to the country. The investment aims to support local cloud computing, AI services, skill development, and cybersecurity landscape enhancement.
Full articleSummary: Amgen shelved obesity treatment AMG 786, continued with MariTide, reported Q1 revenue growth, positive interim results for MariTide in Phase II study.
Full articleSummary: Salesforce CEO Marc Benioff sold over $4 million worth of company stock in a series of trades executed on May 2, 2024. The transactions, carried out under a pre-arranged trading plan, saw Benioff sell shares at varying prices ranging from $268.99 to $272.49 per share. Despite the sales, Benioff still holds a substantial number of shares in the company directly and indirectly.
Full articleSummary: Online marketplaces like eBay, Etsy, and ThredUp are utilizing AI to enhance the shopping experience for both buyers and sellers. AI technologies such as Gift Mode on Etsy and shop the look feature on eBay are being used to simplify product searches and improve the browsing experience. ThredUp has also enhanced its search capabilities using AI technology. Despite the potential benefits of AI, challenges such as long response generation times and higher implementation costs exist.
Full articleSummary: Deere (DE) stock closes at $400.96, with a +1.26% move from the previous day, while experiencing a drop of 2.74% in the past month. Analysts are closely following its upcoming EPS of $7.83 and revenue of $13.26 billion estimates, with full-year estimates at $27.37 per share and $47.22 billion revenue.
Full articleSummary: Richard Pzena made notable changes in his investment portfolio in Q1 2024, including new acquisitions, key position increases, exits, and reductions. The top holdings in his portfolio as of Q1 2024 included major companies like Magna International Inc and Cognizant Technology Solutions Corp.
Full articleSummary: Deere (DE) closed with a +1.26% gain, following market movement similar to the S&P 500, while lagging behind the Nasdaq. Analysts are anticipating a decrease in EPS and revenue for the upcoming financial results. Deere's stock has dropped by 2.74% in the past month, with a Zacks Rank of #3 (Hold).
Full articleSummary: Microsoft is revamping its cybersecurity by hiring security executives for different product groups to prioritize security above all else, following major cyberattacks and criticism of its cybersecurity practices. The company aims to enhance customer engagement and communication about its security measures.
Full articleSummary: Ford might be considering adding a midgate feature to its pickup trucks, following the lead of GM who has used this feature in the past for storage of longer items in pickup beds.
Full articleSummary: Meta is introducing new features for advertisers on Reels, including creator recommendations, reminder ads, and AI enhancement. These features aim to enhance the advertising experience for brands on the platform.
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