Summary: Tesla's share price remains very expensive despite recent earnings report, with analysts expressing concerns over fundamentals and demand issues, leading to varying price targets and ratings by different analysts.
Full articleSummary: GE Aerospace, a part of General Electric, reported strong results in the first quarter of 2024, with significant growth in sales, operating profits, and free cash flow. Investment bank Jefferies raised its price target on GE Aerospace stock to $185 per share, recommending it as a buy.
Full articleSummary: John Deere launched the John Deere Operations Center PRO Golf, integrating labor and fleet management features, providing a unified solution for golf course management.
Full articleSummary: FedEx Express, a subsidiary of FedEx Corp., donated 200 bicycles and maintenance kits to disadvantaged youths in rural African communities through a collaboration with Qhubeka Charity, aiming to improve access to education for underserved students in Sub-Saharan Africa.
Full articleSummary: GE Aerospace had a strong first quarter of 2024, showing significant growth in sales, operating profits, and free cash flow (FCF). Despite concerns about its high P/E ratio, investment bank Jefferies raised its price target on GE Aerospace stock and recommended it as a buy.
Full articleSummary: Microsoft announces a US$2.2 billion investment in Malaysia to advance cloud and AI infrastructure, including building digital infrastructure, creating AI skilling opportunities, and establishing a national AI Centre of Excellence. The investment aims to support Malaysia's digital transformation and elevate its position in the global tech landscape.
Full articleSummary: The Justice Department and state attorneys general are delivering final arguments against Google in a case accusing the tech giant of breaking federal antitrust laws to maintain its online search dominance.
Full articleSummary: Amgen Inc. will host a conference call to discuss Q1 2024 earnings results on May 2, 2024.
Full articleSummary: ConocoPhillips will host a conference call on May 2, 2024, to discuss Q1 2024 earnings results.
Full articleSummary: Tech giants including Alphabet, Meta, Microsoft, and Amazon are significantly increasing their capital expenditures to fuel investments in artificial intelligence, which is expected to impact advertising prices.
Full articleSummary: Colgate-Palmolive is advancing its sustainability efforts by incorporating AI, robotics, solar power, and recyclable toothpaste tubes. The company aims to transition all toothpaste tubes to recyclable ones by 2025.
Full articleSummary: The landmark monopoly trial between the U.S. Justice Department and Google comes to a finale this week, where both sides present closing arguments in a case accusing Google of illegally abusing its power as a monopoly. Google paid $26.3 billion in 2021 alone to be the default search engine on phones and web browsers. If Judge Amit Mehta sides with Google, its business practices will likely remain the same; if not, it's unclear how Google may be sanctioned, potentially facing fines or company restructuring.
Full articleSummary: Nvidia may reveal their RTX 5090 graphics card at Computex 2024, with sources claiming it will be their most powerful gaming product to date with potential features like GDDR7 memory and PCIe 5.0 support.
Full articleSummary: Apple (AAPL) is set to release its fiscal Q2 2024 earnings after the closing bell, with analysts expecting a 4.5% YoY fall in revenues. The company faces challenges in iPhone sales, especially in China, amidst tough competition from Huawei and a slowing Chinese economy. Despite concerns, there are expectations for a potential post-earnings rally given reasonable valuations and belief in AI-driven growth drivers.
Full articleSummary: Australia's sovereign wealth fund has revealed the size of its mandates for the first time, with Man Group Plc, BlackRock Inc., and Citadel named among the big winners as external managers for the alternative investments.
Full articleSummary: Microsoft is collaborating with Sanctuary AI, a competitor of Figure, in the field of artificial general intelligence with a focus on humanoid robots. Sanctuary is working to create robots that can learn and reason like humans to achieve general-purpose status.
Full articleSummary: Salesforce announced the general availability of Einstein Copilot, a conversational AI assistant for CRM, along with new sales actions to enhance seller productivity and scale adoption of generative AI.
Full articleSummary: Shareholders at PepsiCo voted in favour of a resolution requesting a comprehensive biodiversity report, even though management opposed it. Several institutional investors supported the proposal, including Norges Bank Investment Management and Allianz. The vote marked the first time such a proposal has been voted on at a publicly traded company.
Full articleSummary: Organizations are utilizing generative AI in Oracle ERP transformations to meet evolving business needs and deliver ROI faster. Consultancies like IBM are embedding generative AI into Oracle transformation programs to drive early value, enhance user experience, and expedite program timelines. Generative AI platforms are also being used to redefine target operating models and improve service delivery in ERP transformations.
Full articleSummary: NVIDIA will host a conference call to discuss its financial results for the first quarter of fiscal year 2025.
Full articleSummary: Third Point made a 'substantial investment' in Alphabet (GOOGL) due to the drop in share price following the launch fiasco of its AI tool Gemini. Third Point also increased its stake in Microsoft (MSFT), Amazon.com (AMZN), Taiwan Semiconductor Manufacturing Company (TSM), and London Stock Exchange Group (LSEG), citing benefits from the AI boom. The hedge fund believes in the potential of Alphabet to leverage its AI capabilities for product monetization. Third Point also sees opportunities in the rise of AI for US electricity demand, favoring Vistra (VST) as a key player.
Full articleSummary: Boeing whistleblower Joshua Dean, who raised concerns about critical manufacturing flaws in Boeing's 737 MAX planes, died suddenly at the age of 45. His death followed another Boeing whistleblower's suicide two months prior. Former Boeing engineer Sam Salehpour testified about a culture within Boeing that prioritizes pushing flawed components despite safety risks.
Full articleSummary: Cyprus has granted Chevron an additional six months to submit a revised plan for the development of a significant natural gas deposit off the country's southern coast due to the previous plan lacking specific timetables.
Full articleSummary: Cyprus has given Chevron another six months to come up with a revised plan for developing a natural gas deposit, including a specific timetable.
Full articleSummary: Starbucks CEO Laxman Narasimhan's honeymoon phase ends as shares drop by 18%, company cuts guidance for third straight quarter, introduces new products and discounts to attract customers, struggles with app service and product availability leading to issues in reigniting growth.
Full articleSummary: Ford Motor Company stock performance has been underwhelming compared to the S&P 500, but recent financial results showed both short-term optimism and long-term pessimism. Despite a beat in adjusted earnings per share for Q1 2024, there are concerns over challenges in the electric vehicle division and the competitive auto industry landscape, leading to caution for potential investors.
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