Summary: Nvidia has announced its acquisition of AI infrastructure orchestration and management platform Run:ai, estimated at around $700 million. This is Nvidia's biggest acquisition in Israel since purchasing Mellanox. Run:ai raised $75 million in a Series C round in March 2022.
Full articleSummary: Vertiv (VRT) reported strong earnings and orders, leading to a record high stock price. This positive momentum is beneficial for AI stocks such as Nvidia (NVDA), Super Micro Computer (SMCI), and Broadcom (AVGO).
Full articleSummary: Citigroup Inc. announced the redemption of $56,782,000 of its 5.160% Fixed Rate/Floating Rate Subordinated Notes due 2027, in line with its liability management strategy to enhance funding and capital structure.
Full articleSummary: Oracle Corp. plans to make Nashville its world headquarters, closer to a major health-care hub.
Full articleSummary: General Dynamics Corp. reported a $799 million profit in the first quarter of 2024, a 9.5% increase year over year with earnings per diluted share at $2.88, exceeding revenue expectations but missing earnings per share expectations.
Full articleSummary: BlackRock and Grayscale have filed amendments to their spot Ethereum exchange-traded fund (ETF) applications after the SEC delayed its decision on multiple proposals for Ethereum ETFs. The proposed Grayscale Ethereum ETF would list its shares on NYSE Arca trading under the tickers ETHE and ETH. SEC's delay on spot Ethereum ETF proposals has led to lowered optimism among ETF watchers.
Full articleSummary: Qualcomm introduces a new Snapdragon X Plus range of ultra-portable PC chips, following the high-end Snapdragon X Elite, with slightly fewer cores and reduced GPU performance but improved power efficiency and affordability.
Full articleSummary: Thermo Fisher Scientific Inc (TMO) reported higher than expected quarterly adjusted earnings of $5.11 per share, compared to $5.03 in the same quarter last year. The mean expectation of analysts was $4.71 per share.
Full articleSummary: General Dynamics Corp reported higher than expected quarterly adjusted earnings of $2.88 per share, compared to the mean expectation of analysts at $2.93 per share.
Full articleSummary: US economic updates focus on significant tech earnings and economic data announcements, including Q1 US GDP growth rate and key indicators. Major attention on earnings reports from tech giants like Intel, Microsoft, and Alphabet, with a mention of other sectors like biotech, retail, and European banking.
Full articleSummary: Google delays the rollout of its third-party cookie replacement for the third time due to pressure from antitrust regulators, including the UK's Competition and Markets Authority (CMA). The Privacy Sandbox functionality was originally expected to be fully implemented by the end of 2021.
Full articleSummary: Danaher Corporation misses on earnings expectations for Q1 2024 with reported EPS of $1.45 compared to the expected $1.72. Despite the miss, the company remains confident in its full-year outlook, citing better than expected revenue, earnings, and cash flow.
Full articleSummary: Walmart is delving into Buy Now, Pay Later (BNPL) services through its FinTech One, aiming to expand its financial services and super app status. This move is seen as a potential competition/complementation with Affirm, with significant focus on high-ticket purchases and potential expansion to lower-ticket items like groceries.
Full articleSummary: Tesla reported a 55% drop in profits in the first quarter of 2024 due to various challenges, such as the Red Sea conflict and production setbacks. The stock, which had declined by 43% leading up to the earnings announcement, surged over 10% after hours. The company plans to introduce lower-cost models and emphasized its autonomy road map during the earnings call.
Full articleSummary: Citigroup restated a buy rating on shares of JD Sports Fashion with a price target of GBX 925, Several other brokerages also gave buy ratings with increased target prices, Stock up 3.8%.
Full articleSummary: C3.ai and BigBear.ai are considered as AI stocks that could generate 40% returns or more in the near future according to Wall Street analysts, despite recent pullback in the stock market.
Full articleSummary: Xaira Therapeutics has emerged with $1 billion in committed funding and an impressive team led by prominent figures in the biotech industry, including Marc Tessier-Lavigne, Ph.D., and David Baker, Ph.D. The company aims to revolutionize drug discovery by combining machine learning, data generation, and therapeutic product development.
Full articleSummary: AI has dominated the earnings calls of tech giants Apple, Amazon, Microsoft, and Alphabet in early 2024. Microsoft's Azure is highlighted as a leading AI player with Google facing revenue concerns due to potential AI replacements for its search business. Meta is focusing on using AI to enhance its social media algorithms for better ad revenue.
Full articleSummary: Nike shares have been down 30% in the past three years, while Lululemon Athletica (NASDAQ: LULU) has been posting much stronger fundamentals, with sales growth and higher margins than Nike. Lululemon's stock is a rare buying opportunity with better growth prospects compared to Nike, despite a slight valuation mismatch.
Full articleSummary: Google's search leader, Prabhakar Raghavan, addressed challenges in maintaining growth trajectory in digital advertising business during a company-wide meeting.
Full articleSummary: Google delayed its plan to phase out cookies in Chrome browser to 2025, aiming to eliminate them early next year pending regulator agreement.
Full articleSummary: Bristol-Myers Squibb (BMY) is expected to report a loss in Q1 earnings due to major headwinds related to IPR&D and slow launch of new products. Analysts are watchful for comments on IRA pricing for Eliquis and effects of new product launches on upcoming quarters.
Full articleSummary: Some companies, including Google, are cracking down on workplace disruptions and employee activism, emphasizing a 'Mission First' mindset and warning that dissent that disrupts the workplace won’t be tolerated. This marks a shift from the previous trend of encouraging employees to voice personal convictions. Other businesses are also making efforts to tamp down on employee activism in the workplace.
Full articleSummary: Starbucks Workers United are meeting with Starbucks representatives in Atlanta to discuss issues impacting unionized locations, including wages, scheduling, staffing, health, and benefits. The negotiations aim to address worker demands for fair election principles, just cause protections, a $20 minimum wage, and healthcare for part-time workers. The intense pressure from various stakeholders, including symbolic strikes, organizing blitzes, and consumer boycotts, has led to a push for labor rights within the company.
Full articleSummary: Costco has been outperforming its rivals with a 45% increase in shares over the past 12 months. Investors are concerned about its premium valuation but there are opportunities in relatively cheap stocks like Ulta Beauty and Lululemon Athletica.
Full articleSummary: The Home Depot has been recognized by the U.S. Environmental Protection Agency (EPA) as 2024 ENERGY STAR Partner of the Year for Sustained Excellence, showcasing the company's commitment to energy efficiency and environmental stewardship.
Full articleSummary: Apple has reportedly cut production of the Vision Pro mixed-reality headset due to lower than expected demand and may not release a new model in 2025. The launch price was criticized for being high, and the product's fit and battery life were seen as drawbacks.
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