Summary: Tesla has revealed a new Performance variant of the Model 3 sedan with improved features and performance to boost demand. The company is set to announce its financial results after experiencing a drop in deliveries and implementing layoffs.
Full articleSummary: UPS posted mixed first-quarter earnings with adjusted EPS beating estimates but revenue falling short. The company reported declines in average daily volumes in both domestic and international segments, signaling a softening of demand. Bank of America Senior Transportation Analyst Ken Hoexter shared insights on UPS's future prospects, focusing on the importance of increasing volumes to drive earnings.
Full articleSummary: United Parcel Service (UPS) expects its newly won U.S. Postal Service air cargo contract to be profitable in its first year and throughout the more than five-year deal, after rival FedEx struggled with the business. UPS will become the No. 1 USPS air cargo service provider on Sept. 30, replacing FedEx.
Full articleSummary: Main U.S. indexes climbed ahead of earnings reports from tech companies, with mixed movement in individual stocks based on quarterly results and revenue forecasts.
Full articleSummary: Oracle, the software giant, is moving its headquarters to Nashville in 2024.
Full articleSummary: United Parcel Service (UPS) reported mixed first-quarter earnings with adjusted gains surpassing estimates but revenue falling short. The report also highlighted slowing delivery demand in both the US and international markets.
Full articleSummary: Tesla's stock rose about 8% in after-hours trading following its steep annual revenue drop, with investors optimistic about the acceleration of launching new models, including the affordable Model 2. Despite revenue decline and mixed financial results, the focus on new vehicles was well received on Wall Street.
Full articleSummary: Nvidia is a leading company in the field of accelerated computing, with a focus on AI and data centers. They also provide GPUs for gaming, professional visualizations, and automotive markets, utilizing third-party foundries for manufacturing.
Full articleSummary: The U.S. House of Representatives passed a bill that could force TikTok's parent company, ByteDance, to sell the app in the U.S. or pull it from the market. Meta Platforms (META) could benefit from TikTok's potential exit as it would attract more digital advertising revenue. However, the bill still needs to pass the Senate and be signed by the President before taking effect, so Meta investors should remain cautious despite the possible opportunity.
Full articleSummary: GoCardless partners with Intuit QuickBooks to introduce a new app in Australia and the United States, allowing QuickBooks users to utilize Direct Debit for easier payment processing and improved cash flow for small businesses.
Full articleSummary: Meta Platforms (META) is gearing up to report its first quarter earnings, with its stock having gained nearly 40% in the year. The market has been turbulent recently, with Meta stock sliding amid a broader tech sell-off.
Full articleSummary: Meta announced it will open its operating system, Horizon OS, to third-party hardware makers like Asus, Lenovo, and Microsoft to expand metaverse experiences and enterprise productivity within the metaverse.
Full articleSummary: Coca-Cola attempted a major change in its soft drink formula in 1985 with the introduction of New Coke, which ended up being poorly received by consumers, leading to a swift reintroduction of the original formula as Coca-Cola Classic.
Full articleSummary: Coca-Cola (NYSE: KO) has raised its dividend for the past 62 years consecutively, demonstrating commitment to dividends even under economic pressure. Management approved the 62nd consecutive annual dividend hike in February, indicating reliable and growing dividends. Management is guiding for increased sales and profits in 2024, with no danger to its dividend.
Full articleSummary: Industrial and transportation companies' stocks rose after strong earnings reports from various firms including GE Aerospace, General Motors, UPS, Herc Holdings, Ryder System, and Lockheed Martin.
Full articleSummary: Bank of America reported strong financial results in Q1-24 with net income of $6.7 billion, EPS of $0.76, and revenue of $25.8 billion. The bank added over 7,300 net new relationships across Merrill and Private Bank, with client balances reaching nearly $4 trillion, up 13%.
Full articleSummary: PayPal's Blockchain Research Group has proposed a technique to incentivize low-carbon Bitcoin mining, the company is focused on developing products beyond its traditional strengths like cross-border remittances powered by PYUSD and new AI features. The firm is experimenting with ideas such as AI-powered personalization options and cross-border stablecoin transfers.
Full articleSummary: BofA forecasts the Chinese yuan to weaken against the dollar due to various factors such as delayed Fed easing and a weak financial account. The South Korean won has faced challenges due to the Fed's stance on rate cuts and geopolitical risks, leading to a recent dip to an 18-month low against the dollar. BofA remains negative on the Taiwan dollar citing strong equity outflows and unwinding of non-deliverable forward hedges.
Full articleSummary: Microsoft released Phi-3, its smallest language AI model to date, with higher training database and larger parameters. The AI model is claimed to be on par with models trained on over 10 times the number of parameters used. It can understand and respond to more complex questions and is aligned for chat format.
Full articleSummary: Tesla profits have plummeted, Elon Musk remains optimistic about the future by focusing on AI and autonomous vehicles despite challenges in EV industry and internal issues such as layoffs and executive departures.
Full articleSummary: The Coca-Cola Company and Microsoft Corp. have announced a five-year partnership to accelerate the adoption of cloud and generative AI technologies across Coca-Cola’s global operations, with a $1.1 billion USD investment in Microsoft Cloud.
Full articleSummary: Tech giant Alphabet's Google arm faces rising threats to its dominance and issues with new products, prompting a pep rally from search boss Prabhakar Raghavan. Shareholders responded positively, sending shares up over 1.5% in Tuesday's trading. Analysts have a Strong Buy consensus rating on GOOGL stock with a 5.63% upside potential based on recent data.
Full articleSummary: Tesla plans to lay off nearly 2,700 workers at its Austin, Texas factory in June, with layoffs starting on June 14. This follows a recent Cybertruck recall and news of a 10% global roles cut at the company.
Full articleSummary: Tesla changes its product plan to introduce cheaper electric cars to be built on its current production lines. The previously planned inexpensive car based on the new platform has been canceled, but more affordable models are still confirmed, just not on the 'unboxed' system. Tesla will focus on accelerating the launch of new models using aspects of the next-generation platform and current platforms.
Full articleSummary: Tesla stock surged in after-hours trading after announcing plans to launch more affordable vehicles earlier than expected, despite reporting a revenue and earnings miss. Investors welcomed the positive update on the company's future prospects.
Full articleSummary: Coca-Cola unveiled a series of creative OOH executions globally including 'The Playable Billboard' in Times Square, NY, designed to engage passersby with interactive gaming experience.
Full articleSummary: Bank of America is bearish on a slew of Asian currencies and neutral at best on others due to various factors such as delayed Fed easing cycle and U.S. dollar strength. Currencies like Chinese yuan, South Korean won, Taiwan dollar, Thailand baht, and Vietnamese dong are under bearish category.
Full article