Summary: Indian Rupee (INR) weakening against USD on Wednesday due to USD demand. Positive outlook for Indian economy might support INR and limit pair's upside. Investors are focused on US March Durable Goods Orders, with future attention on US GDP data and PCE Index.
Full articleSummary: PepsiCo, Inc. reported $1.48 EPS for Q1 2024, missing expectations of $1.52 EPS. The company's 2024 guidance and business plans were discussed during the earnings call.
Full articleSummary: Yields on U.S. government debt rose slightly as traders awaited the next inflation update on Friday, driven by concerns that inflation may remain high. Market pricing for interest rate cuts has diminished, with investors now expecting less cuts than at the start of the year.
Full articleSummary: GE Aerospace raised its full-year profit forecast despite supply chain challenges and slashed estimates for LEAP jet engine production. The company is benefiting from increased demand for after-market services due to travel rebound and aircraft shortage. GE Aerospace expects a 10-15% growth in LEAP engine output this year, down from the initial 20-25% estimate.
Full articleSummary: Boeing reported a $355 million loss for the first quarter due to a quality crisis resulting from a panel blowout incident on a 737 Max 9 jet. The loss was smaller than analysts had expected and revenue decreased to $16.5 billion in the first quarter.
Full articleSummary: Danaher Corporation has reported a strong start to 2024, with revenue, earnings, and cash flow surpassing expectations. The company is optimistic about long-term growth despite projected declines in core revenue for 2024. Bioprocessing business saw growth, and the Diagnostics segment core revenue increased. Cepheid continues to gain market share and is expected to see growth in its business. The company remains confident in its ability to create sustainable shareholder value.
Full articleSummary: Analysts provided new ratings for United Parcel (UPS) and Pentair (PNR) in the Industrial Goods sector. UPS received a Hold rating with a price target of $145.00, while Pentair received a Buy rating with a price target of $95.00.
Full articleSummary: Hedera's announcement about BlackRock's fund being tokenized led to a 25% drop in HBAR.
Full articleSummary: Costco is offering a deal where new members can get a $40 Costco gift card when signing up for a Gold Star annual membership via StackSocial, effectively making the membership cost only $20. The offer must be redeemed by June 16 and is only available to new customers or those with expired memberships of more than 18 months.
Full articleSummary: Jamie Dimon, Chairman and CEO of JPMorgan Chase, praised PM Narendra Modi for India's progress in poverty alleviation, infrastructure development, and financial inclusion initiatives.
Full articleSummary: PepsiCo reported $2.04bn in net income for Q1 FY2024, a growth of 2.3% in net revenue and 6% in EPS. Despite challenges with Frito-Lay and Quaker Foods, PepsiCo reaffirmed its fiscal guidance for 2024, expecting growth in organic revenue and core EPS. PepsiCo anticipates strong demand for Frito-Lay products and is confident in revitalizing Gatorade and Mountain Dew. The company amended its distribution agreement with Celsius for mutual growth.
Full articleSummary: Pfizer has patented CARs targeting BCMA for treating conditions related to malignant cells expressing BCMA, like cancer. The method involves administering engineered immune cells with specific CARs to patients, offering a promising approach for treating such malignancies.
Full articleSummary: General Dynamics reported mixed first-quarter results with revenue exceeding expectations but EPS falling short. However, the company showed strong order backlog growth and margin expansion. The stock has a Moderate Buy consensus rating with an average price target of $307.82.
Full articleSummary: Thermo Fisher Scientific Inc. reported strong first-quarter results, with net income of $1.33 billion and adjusted earnings of $5.11 per share, exceeding Wall Street expectations. The company also posted revenue of $10.35 billion, surpassing forecasts. Thermo Fisher expects full-year earnings to be in the range of $21.14 to $22.02 per share, with revenue between $42.3 billion to $43.3 billion.
Full articleSummary: General Electric's aerospace division has heavily invested in additive manufacturing (AM) technology, similar to the trajectory of light bulb advancements, with plans to apply AM to defense sector projects and continuously improve production efficiency through multi-laser machines and technology advancements.
Full articleSummary: General Electric (NYSE: GE) stock is up 3.47% after delivering a bullish earnings report; GE Vernova will be spun off and GE Aerospace will be the main focus going forward; Analysts may reconsider the sentiment that GE stock is priced for perfection.
Full articleSummary: Hedera token (HBAR) experienced a surge following a hoax news about a partnership with Archax and BlackRock's ICS US Treasury money market funds on its blockchain. Despite a correction, the token is trading with a daily gain, claimed a spot in the top 25 cryptocurrencies, and faced increased selling pressure.
Full articleSummary: DMG Blockchain Solutions Inc. announces a strategic collaboration with PayPal and Energy Web to explore ways to decarbonize the Bitcoin blockchain, including the development of carbon-neutral payment rail options. The companies are working on publishing a research paper and setting new industry standards for blockchain applications in financial services.
Full articleSummary: Alphabet (GOOGL) will delay the phaseout of third-party internet tracking cookies, benefiting Trade Desk (TTD) stock, which rose 5%. Google stock remained relatively unchanged. The delayed outcome aims to improve consumer privacy and give AdTech companies more time to invest in alternative identifiers.
Full articleSummary: Tesla reported worse-than-expected Q1 earnings but shares jumped 14% as Elon Musk hinted at new affordable models and higher 2024 vehicle deliveries. The company is accelerating the launch of new models, focusing on full-self driving tech and AI.
Full articleSummary: IBM continues to support schools in enhancing their cybersecurity resilience by providing in-kind grants and training in AI and cybersecurity. The recent awards of USD 500,000 each to school districts in the United States and institutions in other countries demonstrate IBM's commitment to driving equitable impact and fostering a culture of learning and growth in cybersecurity.
Full articleSummary: Alphabet, the holding company that controls Google, is approaching the earnings test tomorrow evening. Analysts expect a quarterly profit of $1.51 per share, up 27.4% from the previous period. Revenue estimates for Google Cloud are $9.25 billion (+24.1% YoY) and for YouTube ads are $7.71 billion. Analysts have a 'buy' rating on the stock with a median target price of $170 per share. Technical analysis suggests a bullish short-term outlook with potential retracement levels around $153.
Full articleSummary: Attractions.io is working on a mapping technology for the inside of buildings, potentially including Disney's theme parks, offering detailed maps with 3D rotations and adjustments of points of interest.
Full articleSummary: Government agencies around the world are recognizing the potential of AI to manage datasets and processes. NVIDIA AI Enterprise on Oracle Cloud Infrastructure Supercluster aims to enhance efficiency and innovation for government, address security concerns, and provide high performance for demanding AI workloads.
Full articleSummary: Apple is reportedly doubling down on live sports through a first-of-its-kind agreement with FIFA to secure worldwide TV rights for a new tournament. The deal may make the tournament exclusive to Apple TV+ subscribers only.
Full articleSummary: CVS Health announced a $19.2 million investment to build 85 new affordable housing units in Arvada, Colorado, as part of their commitment to improving health and providing access to quality housing for individuals in underserved communities.
Full articleSummary: Alphabet Inc. resilient to market downturn, restructuring leadership for AI development. Diamondback Energy's positive financial outlook and analyst upgrade. WisdomTree India Earnings Fund as a notable trade pick.
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