Summary: Tesla's move towards more affordable electric vehicle models boosts Nasdaq Composite but puts Dow Jones Industrial Average and S&P 500 Index lower. U.S. President Joe Biden signs a bill forcing sale of TikTok or a potential ban, also includes aid to certain countries. VRT hits record high after beat-and-raise, while PRE emerges from penny stock category with a 68% gain.
Full articleSummary: Cumberland Partners Ltd acquired a new position in shares of Amgen Inc. during the fourth quarter, adding 3,580 shares valued at approximately $1,028,000. Several other institutional investors also increased their positions in Amgen. Wall Street analysts have mixed ratings on AMGN shares, with ten analysts giving a hold rating and ten giving a buy rating.
Full articleSummary: PepsiCo reported 2% sales growth and 7% increase in EPS in Q1 2024 despite challenges including a Quaker recall, with different business segments showing mixed performance.
Full articleSummary: Danaher (NYSE:DHR) had its target price raised by Citigroup analysts to $290.00 from $280.00 with a 'buy' rating, implying a potential upside of 15.96%. Several other analysts also raised their price targets and ratings recently. Danaher reported $1.92 earnings per share for the last quarter, surpassing estimates. Insiders have been actively selling shares, and institutional investors have been acquiring positions.
Full articleSummary: Rogers Communications has announced a 10-year agreement with Comcast to offer Xfinity-developed products and technology to Canadians, including Entertainment OS, broadband, smart home products, and connectivity starting later this year. This collaboration aims to enhance customer experience and offer world-class entertainment and internet services.
Full articleSummary: Several companies are expected to report earnings after hours on 04/24/2024. Key forecasts are: META with a consensus EPS forecast of $4.32, IBM at $1.59, NOW at $1.41, LRCX at $7.26, WM at $1.52, CMG at $11.63, ORLY at $9.18, F at $0.42, URI at $8.35, WCN at $1.02, RJF at $2.32, and ICLR at $3.30.
Full articleSummary: Costco is offering discounted autographed sports memorabilia on its website, with significant savings of up to $2,000 compared to other platforms like Fanatics. Advantages of buying from Costco include lower prices, a satisfaction guarantee, and potential authenticity. Disadvantages include limited search results and fewer images of collectibles.
Full articleSummary: U.S. regulators extended the public comment period for Capital One Financial's planned $35B acquisition of Discover Financial. The comments were originally due earlier but are now extended until May 31, due to concerns and criticisms from lawmakers.
Full articleSummary: Two zero-day firewall vulnerabilities in Cisco Adaptive Security Appliance and Firepower Threat Defense software have been exploited in a state-sponsored espionage campaign against global governments since November.
Full articleSummary: Danaher Corp.'s shares have been outperforming due to stable demand in its Life Sciences unit and synergies from the Abcam acquisition. Regeneron Pharmaceuticals maintains momentum from Dupixent and other approved drugs. Palo Alto Networks benefits from deal wins and increased adoption of its security platforms.
Full articleSummary: General Dynamics, a top-performing defense stock, experienced a nearly 6% drop in shares after an earnings miss primarily due to a delay in the certification of its new G700 business jet. Despite the setback, the company's defense business is performing well with combat-systems revenue growth of 20%, and its outlook remains confident.
Full articleSummary: Texas Instruments (NASDAQ: TXN) stock opened trading 8.5% higher on Wednesday following a strong earnings report, settling at a 5.9% gain. Despite a 35% year-over-year decline in earnings and a 16% drop in sales, the results exceeded Wall Street expectations. Analysts raised target prices post-earnings, and management's Q2 guidance aligns with current views. TI's business is showing signs of returning to normalcy, with the semiconductor industry overcoming challenges and stock trading at a reasonable valuation.
Full articleSummary: Nvidia stock surged to all-time highs but fell back by 10% last week, likely due to its competitor Super Micro Computer not providing clear guidance on its results. Nvidia remains cautious ahead of earnings, while expecting to achieve revenue of US$24 billion in the first quarter of fiscal 2025 with strong outlook in the coming years.
Full articleSummary: Google's plan to phase out third-party cookies in Chrome is being postponed to 2025 due to challenges in reconciling feedback and regulatory concerns, particularly with the UK's CMA and ICO.
Full articleSummary: Hedge funds show increased interest in Philip Morris International Inc (PM) as revealed by the latest 13F filings, with the aggregate share count held by funds rising by approximately 12.09% from 12/31/2023 to 03/31/2024.
Full articleSummary: Comcast experienced falling broadband subscribers for the fourth quarter of 2023, losing about 34,000 domestic broadband subscribers.
Full articleSummary: IBM is in talks to acquire HashiCorp, a move that would likely strengthen its hybrid cloud offerings. IBM is focusing on pivoting towards a hybrid cloud and AI-focused business model, as well as expanding its product portfolio through acquisitions. Analysts expect IBM to post revenue of $14.52 billion and earnings of $1.59 per share in Q1 2024.
Full articleSummary: Lockheed Martin Corp (LMT) reported first-quarter revenues and earnings ahead of expectations, receiving mixed reviews from analysts. While one analyst reiterated a Sell rating due to concerns over margins, another analyst mentioned that the company remains on track for its 2024 guidance.
Full articleSummary: JP Morgan Chase CEO Jamie Dimon praised Prime Minister Narendra Modi for pursuing reforms and taking 400 million people out of poverty in India. He also commended the country's education system, infrastructure, and efforts in financial inclusion.
Full articleSummary: The top U.S. cybersecurity agency has ordered all federal civilian agencies to patch three high-profile vulnerabilities by May 1 due to active exploitation by hackers. Cisco products vulnerable to exploitation, particularly by state-sponsored threat actors. Vulnerability affecting CrushFTP also highlighted due to potential system compromise if successfully exploited.
Full articleSummary: Meta Platforms is set to report first-quarter earnings after a strong performance in the last earnings release, analysts are optimistic about the company's potential growth and efficiency. Key data points to watch include active users, engagement metrics, and revenue per user.
Full articleSummary: Climate activists protested outside Citigroup demanding the bank stop funding fossil fuel companies, leading to over 30 arrests.
Full articleSummary: Tesla reported a 55 percent drop in profit amid fierce competition in the electric vehicle market, but shares rallied on plans to accelerate the production of more affordable models.
Full articleSummary: UPS (NYSE: UPS) is facing pressure from competition and shipping volume challenges, leading to a drop in both top-line and earnings. Operating expenses have been increasing rapidly. Despite positives like integrated shipping network and high dividend yield, the stock's valuation does not fully reflect the risks, resulting in an uninspiring return potential according to analysts.
Full articleSummary: General Dynamics' earnings fell short of expectations due to delays at Gulfstream. The company's stock traded down nearly 6% following a bottom-line miss. However, the defense side of the business performed well, with combat-systems revenue growing by 20%.
Full articleSummary: Oracle Corp. plans to move its headquarters to Nashville to focus on the healthcare industry, Nashville will be the world headquarters for Oracle, Ellison confirms. Nashville granted Oracle $175M in incentives. Oracle acquired electronic health records company Cerner for $28B in late 2021.
Full articleSummary: U.S. bank regulators extend comment period on Capital One-Discover deal to allow more feedback until May 31, for a pending $35 billion deal to create the sixth-largest bank and a payments giant.
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