Summary: European cloud providers strongly criticize Broadcom's license changes, highlighting massive and unjustifiable price increases that threaten economic survival of local cloud services. CISPE states that the changes are anti-cloud licenses as they lack flexibility and force customers to commit in advance for three years. The EU antitrust authority's review of the Broadcom and VMware takeover is welcomed by CISPE, but they believe concessions are minimal and only aimed at appeasing competition authorities.
Full articleSummary: Deutsche Bank has appointed Edward Bayliss as the new head of US credit trading to replace Dan Crowley, with Bayliss coming from Morgan Stanley. Bayliss is known for his risk management skills and talent development. Deutsche Bank has made significant hires from Credit Suisse but had a more muted credit recruitment in the US. The bank is set to report its first-quarter results soon.
Full articleSummary: Microsoft announced the launch of Phi-3 Mini, a small language model that is more capable and cost-effective, aiming to make AI more accessible and affordable. The idea for training Phi-3 came from children's bedtime stories.
Full articleSummary: Intel stock price has collapsed by over 32% to the current $34.28, due to industry-wide semiconductor market downturn, investors are anxious ahead of Intel's upcoming financial results as previous quarters have seen negative stock movement, analysts expect revenue to rise by 8.60% to $11.9 and EPS to improve to 13 cents, technical analysis indicates bearish outlook with a potential drop to $30 and a death cross pattern forming.
Full articleSummary: Russian Deputy Head of Defense Ministry, Timur Ivanov, apprehended by Ukrainian intelligence after cyber attack; facing charges of receiving bribe and high treason.
Full articleSummary: VTB Bank PJSC is suing JPMorgan Chase & Co. in a St. Petersburg court to recover about $440 million, with the court freezing JPMorgan's Russian assets.
Full articleSummary: Alphabet Inc. (GOOGL) is facing a mix of optimistic and pessimistic views ahead of its first-quarter earnings report, with analysts expecting better ad spending, cloud sales, and AI innovation but also highlighting concerns about regulatory risks, economic challenges, competitive pressures, and potential impact of AI advancements from other tech giants.
Full articleSummary: Ford will report its first quarter results with a focus on gas and hybrid offerings as it aims to offset heavy spending on EVs. Investors will be looking for Ford to match GM's strong Q1 results and are expecting Ford to report slightly better results than Q4.
Full articleSummary: Text messages reveal contradictory statements by a developer central to the Greenbelt scandal about his relationship with a trusted aide of the premier, leading to suspicions of undisclosed ties. The scandal involves the removal of Greenbelt lands and the government's unprecedented issuance of minister's zoning orders (MZOs). The integrity commissioner's report highlighted questionable testimonies and relationship dynamics among key players involved in the Greenbelt scandal.
Full articleSummary: Lowe's Companies (LOW) has implemented strategic initiatives like the MyLowe's Rewards loyalty program and advanced digital capabilities, aligning with evolving consumer behaviors and leading to sustained growth. The company's adaptability, focus on Pro segment, investment in technology, and optimism about future demand drivers reinforce its leadership in the competitive home improvement industry.
Full articleSummary: BlackRock has introduced LifePath Paycheck, a retirement income solution available in defined contribution plans, providing access to guaranteed income through a target date fund and annuity contracts. Several plan sponsors have already implemented the strategy as the default investment option for their employees.
Full articleSummary: Multiple companies such as Tesla, Visa, Texas Instruments, Hilton Worldwide Holdings, Boston Scientific, and Mattel reported positive financial results in Q1, while General Dynamics fell short of analysts' expectations and Teledyne Technologies trimmed its profit forecast for the year.
Full articleSummary: Google has once again delayed its plans to eliminate third-party cookies on Chrome browser, following concerns by the U.K.'s CMA. The company aims to provide evidence by the end of June for review, postponing the cookie deprecation to early next year.
Full articleSummary: Capital One offers a range of personal and business checking accounts with no account minimums and innovative features through its technologically advanced apps. The bank prioritizes customer satisfaction, financial inclusion, and recognition for its award-winning technology.
Full articleSummary: General Dynamics is investing in AI within its GDIT services business and Mission Systems hardware unit. CEO mentioned that return on AI investment will take time due to slow government adoption. First quarter revenue for GD's Technologies segment, which includes GDIT and Mission Systems, was down approximately 0.8%.
Full articleSummary: British antitrust regulators are seeking views on partnerships between Microsoft and Amazon with smaller generative artificial intelligence model makers as part of an investigation on whether the arrangements qualify as mergers.
Full articleSummary: Target might stop selling physical media like DVDs and Blu-rays in-store and online by 2025.
Full articleSummary: Oracle Corp. plans to make Nashville its world headquarters, developing a campus near a major health care hub. The tech giant, led by Larry Ellison, who relocated the company from Silicon Valley to Austin, is targeting growth in the health care industry.
Full articleSummary: Tesla reported a sharp drop in quarterly profits and revenue for the first time since 2020, but its share price rallied after Elon Musk pledged to accelerate plans for a more affordable EV.
Full articleSummary: Caterpillar is expanding its presence in the Dallas-Fort Worth area by adding 50,000 square feet of space to its offices at Williams Square at a cost of $10 million. The project is expected to start this month and conclude in May 2025.
Full articleSummary: PepsiCo reported higher than expected earnings per share and revenue for the quarter, with an increase in revenue compared to the same quarter last year. The company updated its guidance for FY24 to at least $8.15 EPS.
Full articleSummary: Loop Capital Markets analyst maintained a Buy rating on Comcast with a price target of $57.00. Comcast also received a Buy rating from Morgan Stanley's analyst but was downgraded by Exane BNP Paribas to Hold. Insider sentiment is negative as there has been an increase in insiders selling CMCSA shares.
Full articleSummary: Texas Instruments' shares jumped 7.8% in pre-market trading after reporting Q1 results beating revenue and EPS expectations, with strong performance in analog segment. Next quarter's revenue guidance above estimates, however, gross margin fell and inventory levels increased. Overall, a decent quarter.
Full articleSummary: Bank of America shareholders reject proposal to split CEO, chair roles. Proxy advisers recommend investors vote for the bank to separate the positions. 31% of shareholders backed the proposal.
Full articleSummary: General Dynamics reported earnings per share of $2.88, below the analyst estimate of $2.93, but reported revenue of $10.73 billion, which was 3.98% better than the analyst estimate of $10.32 billion.
Full articleSummary: Nvidia doubles down on AI hardware market dominance by acquiring AI infrastructure management startup Run:ai for $700 million, aiming to leverage Run:ai's Kubernetes-based workload management software to drive its DGX Cloud business.
Full articleSummary: Texas Instruments gave a bullish revenue forecast for the current quarter, indicating a potential easing of the slump in demand for industrial and automotive components. Sales are expected to reach up to US$4 billion, exceeding analyst estimates. The company's diverse customer base and positive signs of chip ordering suggest a broader industry recovery.
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