Summary: UPS struggled in Q1 with weakness in all segments, impacting the top and bottom lines. Despite reaffirming guidance and snatching business from FedEx, analysts are cautious due to rough business conditions and a challenging technical picture.
Full articleSummary: JPMorgan Chase & Co's 4.55% Dep Shares Non-Cumulative Preferred Stock Series JJ (JPM.PRK) yields above 5.5%, trading at a 16.92% discount to its liquidation preference amount. In comparison to the 'Financial' category, it has a lower average yield and higher discount. The preferred shares are non-cumulative, which means the company is not obligated to pay missed dividends before resuming common dividends.
Full articleSummary: IBM is nearing a deal to acquire software company HashiCorp Inc. for about $35 per share.
Full articleSummary: The Liberty SiriusXM Group (NASDAQ:LSXMA) was downgraded by Citigroup from a 'buy' to a 'neutral' rating with a lowered price target of $28.00, suggesting a potential upside of 10.76% from the stock's close. Major shareholder Berkshire Hathaway Inc purchased 139,132 shares of LSXMA stock. Hedge funds have been modifying their holdings in the company.
Full articleSummary: Analysts at Jefferies and Bank of America Securities maintained a Buy rating on PepsiCo (PEP) with price targets of $209.00 and $210.00 respectively. The company's shares closed at $171.22. PepsiCo has an average volume of 5.95M and a one-year high of $191.22 and a one-year low of $153.48.
Full articleSummary: A U.S. appeals court rejected Starbucks' claims to invalidate an employee unionization vote due to mail-ballot method during the pandemic. This decision upholds the National Labor Relations Board's ruling for Starbucks to recognize and bargain with the store's union. Starbucks is reviewing the decision and focusing on negotiations for ratified store contracts.
Full articleSummary: Tesla reported disappointing first quarter results, but plans to accelerate the development of a cheaper vehicle has shares soaring. Meta, Chipotle Mexican Grill, and Ford set to report their quarterly results.
Full articleSummary: Several companies including Meta, Chipotle Mexican Grill, and Ford are set to report quarterly results. Tesla reported disappointing results but shares are soaring due to plans to develop a cheaper vehicle. Other trending tickers are Boeing, Vertiv Holdings, and AT&T.
Full articleSummary: Alphabet A (ex Google) will be reporting Q1 earnings on April 25. Wall Street analysts expect an EPS of $1.51, predicting an increase in revenue and profit compared to the prior year.
Full articleSummary: Gilead Sciences was upgraded by HSBC from a 'reduce' rating to a 'hold' rating with a price target of $69.00. The stock has an average rating of 'Hold' and a consensus price target of $84.57. Recent insider transactions and institutional trading activities have been reported.
Full articleSummary: Eli Lilly's weight-loss drug, Zepbound, has shown promising revenue potential following regulatory approval, with significant demand surpassing supply. The market for obesity drugs is projected to grow substantially by 2030, creating a lucrative opportunity for the company despite reimbursement challenges from Medicare.
Full articleSummary: Community Bank & Trust Waco Texas increased its position in ConocoPhillips by 94.9% during the 4th quarter, with other hedge funds also modifying their holdings. Analysts have given a range of ratings from hold to strong buy with an average target price of $143.24. Insiders have been actively involved in transactions, with the company also increasing its dividend.
Full articleSummary: Amgen is utilizing real-world evidence capabilities to enhance understanding of plaque psoriasis and psoriatic arthritis. Insights from real-world evidence are helping bridge the gap between clinical trials and real-world patient needs. There is a disconnect between patients and physicians in understanding treatment goals.
Full articleSummary: Poplar Forest Capital LLC reduced its holdings in shares of FedEx Co. by 28.0% in the 4th quarter, according to a recent filing with the SEC. Analysts have been positive about FedEx with several price target increases. FedEx stock traded down 2.1% during mid-day trading.
Full articleSummary: Poplar Forest Capital LLC reduced its holdings in Philip Morris International by 28.8%, several other hedge funds and institutional investors also modified their holdings of PM. The stock's insiders have been involved in selling recent shares. PM's trading saw an increase and the company announced a quarterly dividend. Analysts have given varying ratings for PM.
Full articleSummary: Two Dutch claim organizations are suing Apple for deliberately slowing down iPhone 6, 7, and first-generation SE models due to software updates that reduced performance and a concealed battery defect. Apple is being asked to compensate owners for up to €100 per phone.
Full articleSummary: Tesla plans to ramp up AI development by installing 85,000 Nvidia H100 chips by year-end, making it a significant customer of Nvidia. Meanwhile, Nvidia experienced a significant drop in stock value due to disappointing earnings and a pessimistic market outlook from other companies.
Full articleSummary: General Electric stock is up 3.47% in early trading after delivering its first-quarter earnings report. The company spun off its energy unit, GE Vernova Inc., and will now report earnings under the name GE Aerospace with two business units: Commercial Engines & Services and Defense & Propulsion Technologies. GE Aerospace delivered strong numbers, raised its profit guidance for 2024, and projected earnings between $3.80 and $4.05 per share.
Full articleSummary: Wells Fargo & Co. is closing more branches including locations in Raleigh, with a total of 68 closings in North Carolina since July 2020. The current branch count has decreased significantly compared to previous years.
Full articleSummary: First American Trust FSB increased its stake in Alphabet Inc. by 4.5% in the 4th quarter, with the investment portfolio valued at $27,905,000. Various other institutional investors also made changes to their positions in the company. Alphabet stock currently has an average rating of 'Moderate Buy' with an average price target of $158.71. GOOGL last reported earnings on January 30th, with a net margin of 24.01% and a return on equity of 27.22%.
Full articleSummary: The annual Fabulous Fords Forever gathering at Irwindale Speedway celebrated 60 years of Mustang, along with other Ford milestones and events. A new experiential program called 'Mustang Unleashed' showcased the 2024 Mustang as part of a nationwide tour. Various Ford legends were present for autograph sessions and 1/8th Mile Drag Racing added excitement to the event.
Full articleSummary: BlackRock is thrilled with the success of its spot bitcoin ETF IBIT, as it accounts for 24% of all their flows out of 1,000 ETFs globally. The ETF has attracted inflows for more than 70 days and currently has over $18 billion in assets under management, making it one of the most successful ETFs in history.
Full articleSummary: IBM is nearing a deal to acquire software company HashiCorp Inc. for about $35 per share. HashiCorp shares jumped as much as 11% on Wednesday.
Full articleSummary: Caitlin Clark is set to make $28 million over eight years in a sponsorship deal with Nike, making it the biggest in women's basketball history. Several brands were interested in her, but most balked at her initial asking price of $3 million per year.
Full articleSummary: Trident Energy has reached agreements with TotalEnergies and Chevron for offshore assets in the Republic of Congo.
Full articleSummary: Philip Morris International Inc. stock fell slightly despite strong Q1 earnings report showcasing growth in IQOS heated tobacco sticks, increased market share in Europe and Japan, and positive revenue and shipment volume growth. Company also declared a regular quarterly dividend and provided optimistic outlook for FY 2024.
Full articleSummary: Hedge fund managers have increased their holdings in Bristol Myers Squibb Co. (BMY) as per the latest 13F filings, with a share count increase of approximately 1.96% between 12/31/2023 to 03/31/2024.
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