Summary: PepsiCo outperformed Wall Street forecasts for first-quarter revenues and profits driven by robust demand for soft drinks and snacks in international markets. Despite a slowdown in the United States, the company's net revenues reached USD18.25 billion, surpassing estimates, highlighting its resilience and adaptability.
Full articleSummary: Dow Jones futures, along with S&P 500 and Nasdaq futures, fell after Meta Platforms plunged on guidance. Several companies including ServiceNow and Chipotle reported earnings, with key economic data on tap.
Full articleSummary: Starbucks is offering a half-off drink promotion on April 25 from noon until 6 p.m. Rewards members can avail the deal by using a promo code on the Starbucks app or asking a barista to apply it. The promotion includes the new Spicy Lemonade Refreshers and spicy cream cold foam.
Full articleSummary: Meta Platforms (META) shares plunged over 12% in after-hours trading despite an earnings beat due to weak guidance for the second quarter and increased full-year expenses. Revenue for Q1 was $36.46 billion, with 27% year-over-year growth, while net income more than doubled from the previous year. The company also revealed new AI initiatives including an AI assistant and an in-house AI-capable chip.
Full articleSummary: Coca-Cola and Microsoft have entered into a $1.1 billion five-year deal where Coca-Cola will have access to Microsoft's AI and cloud computing services, focusing on enhancing productivity and exploring innovative generative AI use cases.
Full articleSummary: Citigroup Inc. is redeeming C$56,782,000 of its 5.160% Fixed Rate / Floating Rate Subordinated Notes due 2027 on May 24, 2024, as a part of its liability management strategy to optimize funding and capital structure. Interest on the notes will cease to accrue after the redemption date.
Full articleSummary: Seattle Starbucks workers, including Ari Bray, traveled to Atlanta to negotiate for more control over their schedules and other benefits. The meeting marks a positive development in the relationship between Starbucks and Workers United.
Full articleSummary: Avangrid has implemented the BlackRock LifePath Paycheck to attract and retain employees in a competitive market, leveraging their familiarity with BlackRock target-date funds. The company aims to make the retirement benefit more equitable for all workers, both low-income and well-compensated.
Full articleSummary: Meta reported a 27 percent increase in revenue and profit that more than doubled in the first quarter, planning to spend billions more on infrastructure for its A.I. efforts.
Full articleSummary: Shares in Meta (formerly Facebook) dropped more than 10% in US after-hours trading despite a 27% increase in first quarter revenue and beating earnings expectations. The drop was driven by higher expected expenses in 2024 due to heavy spending on AI.
Full articleSummary: Tech giant Cisco Systems joins Microsoft and IBM in signing a Vatican-sponsored pledge to ensure ethical use of artificial intelligence for the common good, emphasizing transparency, inclusion, and security.
Full articleSummary: Texas Instruments stock is seen as unique among chipmakers for its high dividend yield of over 3.15%, which is double the industry average. Despite a challenging Q1, signs suggest a return to growth with healthy cash flow and balance sheet. Analysts are raising price targets and market outlook is positive, with potential for the stock price to trend higher.
Full articleSummary: PepsiCo's stock rebounded by 3.9% after a bullish note from Morgan Stanley following its first-quarter earnings report which showed a product recall and revenue decline in North America. Morgan Stanley believes the stock is well priced and expects a rebound due to improving trends, international market strength, and favorable year-over-year comparisons.
Full articleSummary: A man was arrested for a deadly shooting inside a McDonald's in Harford County.
Full articleSummary: Developing-world assets show signs of stalling as traders await US economic data for insight on potential interest rate cuts by the Federal Reserve. Emerging-market currencies weakened, while some Asian stocks gained and Latin American stocks declined.
Full articleSummary: Starbucks and the union representing its baristas will resume contract negotiations following a stalemate, with discussions related to litigation over the union's use of Starbucks' branding. Roughly 500 company-owned Starbucks in the U.S. have voted to unionize under Workers United.
Full articleSummary: A Russian court ruled in favor of VTB Bank in $439.5 million dispute with JPMorgan Chase over frozen funds post-Ukraine invasion, leading to seizure of assets. JPMorgan faces potential half-billion-dollar loss due to U.S. sanctions compliance.
Full articleSummary: A Russian court orders the seizure of funds in JPMorgan's Russian accounts and property after VTB Bank seeks to recoup $439.5 million frozen by the American bank due to the Ukraine invasion, positioning JPMorgan at risk of significant loss under U.S. sanctions.
Full articleSummary: Pfizer Inc. declares a quarterly cash dividend of $0.42 per share, marking the 342nd consecutive quarterly dividend paid by the company.
Full articleSummary: Hackers backed by a powerful nation-state have been exploiting two zero-day vulnerabilities in Cisco firewalls in a five-month-long campaign that breaks into government networks around the world.
Full articleSummary: Disney and Starbucks have launched a new limited-edition merchandise lineup featuring Disney fan-favorite characters like Mickey Mouse and Donald Duck, inspired by enduring bonds of friendship and positivity, available in Asia Pacific markets.
Full articleSummary: Meta Platforms (META) exceeded analyst expectations in first-quarter earnings but saw its shares decline over 10% due to its second-quarter outlook. Roth MKM Managing Director Rohit Kulkarni highlighted the potential of generative AI to drive Meta's future revenue. Kulkarni also discussed the impact on Meta's social media opportunities if ByteDance fails to comply with US legislative requirements.
Full articleSummary: Morgan Stanley expressed bullish sentiment towards PepsiCo (PEP) due to potential upside following its first-quarter earnings report and expects the stock to rebound later in the year.
Full articleSummary: Costco stock has rallied almost 2,000% in the last 20 years and with international expansion accelerating, its future growth prospects look promising.
Full articleSummary: Microsoft has faced criticism for charging for security add-ons despite its history of vulnerabilities and breaches. Some customers find it frustrating to pay extra for essential security tools on top of existing subscriptions. Analysts suggest Microsoft should include more security features in standard subscriptions, even though this may impact revenues and attract regulatory scrutiny.
Full articleSummary: IBM stock slipped after reporting first quarter earnings ahead of expectations but with sales slightly below estimates. The firm also announced plans for a $6.4 billion acquisition of cloud-software company HashiCorp. Despite affirming its full-year guidance for 2024, IBM's stock fell over 8% in after-hours trading.
Full articleSummary: 1. Danaher Corp.'s shares are outperforming the industry due to stable demand in life sciences and synergies from the Abcam acquisition, though weakness in the Biotechnology unit and high debt levels are concerns. 2. Regeneron Pharmaceuticals is maintaining momentum from Dupixent's performance, but facing decline in Eylea sales and pipeline setbacks. 3. Palo Alto Networks benefits from deal wins and product strength, but faces challenges from softening IT spending and higher expenses.
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