Summary: Tesla is planning to lay off thousands of employees across its Bay Area locations, totaling 2,753 jobs to be lost. The announcement came after already facing challenges like a drop in deliveries and demand, lower revenue, and missed earnings expectations. Despite the tough times, Tesla's stock rose 11% on news of producing more affordable cars next year.
Full articleSummary: ConocoPhillips guided to shareholder returns of $9 billion and emphasized shareholder returns as a strategy, but some concerns were raised about borrowing for acquisitions and lack of emphasis on low-cost operations. Diamondback Energy made successful acquisitions contributing to growth and shareholder value, maintaining a long-term growth story while providing income.
Full articleSummary: Cisco showcases various security technologies at GISEC booth alongside partners Emircom & WWT, also reveals UAE findings of its 2024 Cybersecurity Readiness Index
Full articleSummary: Caitlin Clark, a basketball sensation, is likely to ink an eight-year partnership deal with Nike worth $28 million, making it the most lucrative sponsorship contract for a women's basketball player to date.
Full articleSummary: Russian court orders seizure of funds in JPMorgan Chase bank accounts in Russia in a lawsuit filed by state-owned bank VTB to recover blocked funds, JPMorgan Chase had sued VTB in New York to halt recovery efforts, JPMorgan Chase declined to comment on the court order
Full articleSummary: Raymond James & Associates reduced its stake in BNY Mellon Strategic Municipals, Inc. by 13.6% during the 4th quarter as per Form 13F filing. The firm owned 134,508 shares of the stock worth $788,000. Several other hedge funds also made changes to their holdings in the stock. BNY Mellon Strategic Municipals announced a monthly dividend of $0.019 with an annualized dividend yield of 3.88%.
Full articleSummary: The Philippines' SEC has ordered Google and Apple to remove Binance from their app stores due to violations of securities laws by offering unregistered securities and operating as an unregistered broker.
Full articleSummary: SenseTime Group Inc.'s stock soared 36% after releasing SenseNova generative AI model version 5.0, showcasing China's AI development efforts.
Full articleSummary: United Parcel Service, Inc. (UPS) reported first-quarter 2024 earnings per share of $1.43, beating the Zacks Consensus Estimate but declining 35% year over year. Revenues fell short of estimates and decreased 5.3% year over year. UPS also provided its outlook for 2024.
Full articleSummary: Costco Wholesale had its target price raised by Citigroup from $630.00 to $710.00 with a neutral rating on the retailer's stock. Several other firms have also increased their price targets and ratings for COST. Costco Wholesale recently announced an increase in their quarterly dividend. Insider transactions took place with several executives selling company stock. Institutional investors made significant changes to their positions in Costco Wholesale.
Full articleSummary: Costco Wholesale had its target price hoisted by Citigroup from $630.00 to $710.00 with a neutral rating on the stock. Several other research firms also raised price targets and gave outperform ratings. Costco reported positive earnings and increased its dividend. Insider transactions and institutional investors' positions reflect confidence in the company.
Full articleSummary: Aerospace and defense major RTX reported a 20% jump in first-quarter profit, driven by robust commercial aftermarket business and military equipment demand.
Full articleSummary: The Charles Schwab Co. (NYSE:SCHW) reached a new 52-week high on Monday and received several analyst upgrades, with a current average price target of $74.47. Insider activity includes recent sales by company directors and the chairman. Large investors have also shown interest in the company.
Full articleSummary: Meta Platforms will report its first-quarter earnings with Wall Street being optimistic about the social media firm's results but some concerns about slowing growth and the need for new catalysts have been highlighted by analysts.
Full articleSummary: U.S. prosecutors are seeking a 36-month sentence for the former CEO of Binance for enabling money laundering and wilfully failing to implement an effective anti-money laundering program.
Full articleSummary: 10X Capital Venture Acquisition Corp. III received a notice from NYSE American for not timely filing its Annual Report for the fiscal year ended December 31, 2023. The company has six months to file the report to regain compliance.
Full articleSummary: Com Unit Ltd Partnership Int/NextEra Energy Partners LP declared dividend of $ 0.8925 per share, an increase of $ 0.0125 from the last dividend paid. The company has a current dividend yield of 12.8186454773% and has increased its dividends for 9 successive years.
Full articleSummary: Tennessee Valley Asset Management Partners acquired a new stake in Philip Morris International Inc. in the 4th quarter, purchasing 346 shares valued at $33,000. Several other institutional investors also made changes to their positions in the company. Philip Morris International reported $1.50 EPS for the quarter, beating the consensus estimate. The company also announced a quarterly dividend of $1.30 per share.
Full articleSummary: Tennessee Valley Asset Management Partners acquired a new position in shares of Comcast Co., Other institutional investors and hedge funds also modified their holdings of CMCSA, President Michael J. Cavanagh sold 114,749 shares of Comcast's stock, Comcast's stock price performance and analysts setting new price targets.
Full articleSummary: Mirae Asset Global Investments Co. Ltd. reduced its holdings in NextEra Energy Partners by 12.6% in the fourth quarter, holding 33,272 shares worth $1,012,000. Several other hedge funds also adjusted their holdings in NEP. Analysts expect NEP to post 0.9 EPS for the current year.
Full articleSummary: Bank of America (NYSE: BAC) reported a decline in net interest income, a decrease in overall deposits, and an increase in charge-offs in its first-quarter earnings report. Despite this, a Wall Street analyst upgraded the stock from peer perform to outperform, with a price target indicating a 14% gain.
Full articleSummary: Tennessee Valley Asset Management Partners acquired a new position in FedEx, other institutional investors also made changes in their positions. Analyst ratings show mostly positive outlook with some upgrades. FedEx reported beating consensus EPS estimates in their quarterly earnings results.
Full articleSummary: Texas Instruments reported a first quarter revenue of $3.66 billion, which exceeded the estimate of $3.6 billion. The company saw a year-over-year decrease in revenue, with the Analog and Embedded Processing divisions both experiencing drops. Earnings per share also decreased compared to the previous year. Despite challenges, Texas Instruments maintained robust capital management strategies.
Full articleSummary: Goldman Sachs and Barclays analysts maintained a Buy rating on PEP stock due to strong performance in the initial quarter and management's confident fiscal year 2024 guidance.
Full articleSummary: Boeing has held a flag raising ceremony at its Apache helicopter production line in Mesa, Arizona to welcome Australian partners and mark the country as the eighteenth nation to operate the Apache attack helicopter when it receives its first helicopter in 2025.
Full articleSummary: The Ford Explorer receives a major overhaul for 2025, with updated styling, interior design, and new technology. The SUV offers solid fuel economy, over-achieving engines, and impressive towing capabilities. It competes with models like the Kia Telluride, Honda Pilot, and Toyota Grand Highlander.
Full articleSummary: Raytheon, a business of RTX, is expanding its Redstone Raytheon Missile Integration Facility by 26,000 square feet in a $115 million investment, bringing in 185 new jobs and increasing the factory's space for defense programs.
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