Summary: Boeing anticipates a slower ramp-up in the production and delivery of its 787 jets due to shortages of crucial parts, faces challenges in sourcing specific components, and is working to address supply chain disruptions and manufacturing processes.
Full articleSummary: Apple Inc. was named a top pick for 2024 at Bank of America due to optimism over upcoming results and longer-term prospects. However, concerns over weaker iPhone demand in China and regulatory pressure have pressured the stock. Some analysts are cautious about Apple's growth potential, while others see it as attractive following a year-to-date drop in valuation.
Full articleSummary: Meta, formerly Facebook, announced the upcoming expansion of its Meta Horizon OS, a virtual and augmented reality operating system that will be available to third-party hardware manufacturers. This move will allow other companies to design their own VR and AR products using Meta's software.
Full articleSummary: Meta (formerly Facebook) announced that its VR OS, now called Horizon OS, will work on devices beyond the Quest and will be open to third parties, including partners like Asus, Lenovo, and Microsoft.
Full articleSummary: Intel has been granted a patent for a transistor structure in an integrated circuit with a nanowire body, gate structure, source, and drain regions, along with spacer materials for improved performance. The design aims to enhance efficiency and functionality of integrated circuits. The patent includes variations such as multiple bodies arranged horizontally or in a vertical stack, optimizing the circuit's capabilities and extending to computing devices for enhanced memory and communication capabilities.
Full articleSummary: California will conclude a two-year investigation into ExxonMobil and the fossil fuel industry's role in global plastic pollution by summer and may decide on a lawsuit, focusing on alleged deception and promotion of 'advanced recycling' technology.
Full articleSummary: Meta is opening up its Meta Quest operating system to third-party hardware makers, creating a new ecosystem of mixed reality devices, running on Meta Horizon OS, to offer more choice to consumers and developers.
Full articleSummary: A managing director at Citigroup claimed the bank failed to protect her from a supervisor’s threats due to a culture of sexual harassment, while unresolved sexual harassment cases within India Inc. have seen a significant increase, spotlighting challenges in timely resolution, and various companies are facing pending complaints related to the issue.
Full articleSummary: Meta Platforms has seen a significant increase in revenue from Chinese advertisers, primarily from online retailers Temu and Shein, contributing positively to the company's earnings. Investors are awaiting the first-quarter earnings report to assess if this trend continues into 2024. The influx of spending from Chinese ecommerce advertisers has been beneficial for Meta, although potential risks from geopolitical tensions and trade disputes are looming.
Full articleSummary: GoCardless partners with Intuit QuickBooks to launch its app in Australia and the US, aiming to help small businesses reduce late payments and improve cash flow by enabling Direct Debit payments.
Full articleSummary: Wall Street analysts are closely watching the developments of Waymo, the robotaxi company backed by Alphabet, as it faces vandalism incidents and announces network expansion plans. Google's parent company, Alphabet, is scheduled to report first-quarter results on April 25 with analysts expecting an earnings increase compared to the previous year. Economic analysts have noted potential catalysts for Alphabet including operating expense discipline, Waymo expansion, a potential dividend, and a new CFO. However, restructuring efforts within Alphabet's finance teams have also been revealed, signaling tough decisions ahead for the company.
Full articleSummary: Nike, Inc. announced a second round of permanent layoffs at its Beaverton World Headquarters, affecting 740 positions as part of a broader 2% employee base reduction. The layoffs are expected to be completed by June 28, 2024 as part of a cost-cutting program designed to save $2 billion over the next three years.
Full articleSummary: PayPal has proposed to make sustainable Bitcoin mining more economically attractive by rewarding miners through incentives tied to low-carbon energy sources, encouraging miners to use clean energy. The proposal aims to increase discussion and innovation around Bitcoin.
Full articleSummary: Google is expected to launch the Pixel 8a, the affordable version of the Pixel 8 series, at the Google I/O 2024 event with leaked specifications including price, storage options, and features.
Full articleSummary: RB Global, an established B2B marketplace, appoints Nancy King, former senior vice president of product engineering at Target Corp, as its new CTO. King is noted for her technology leadership and vision at Target.
Full articleSummary: Citigroup initiated coverage of Privia Health Group (PRVA) with a Buy recommendation, projecting a 56.97% upside from the current price. The average one-year price target for PRVA is $28.38, with revenue and non-GAAP EPS expected to increase significantly. Institutional ownership slightly decreased, but put/call ratio indicates a bullish outlook.
Full articleSummary: A U.S. defense official downplayed the capabilities of China's H-20 stealth bomber, stating it does not match up to U.S. low observable platforms. Concerns were raised about China's operational proficiency in using advanced systems and its military dealing with corruption within its ranks.
Full articleSummary: BNY Mellon's standardized risk-weighted assets increased by $13.6 billion in the first quarter due to higher agency securities lending and client overdraft balances, pushing the bank below the Collins floor.
Full articleSummary: Boeing expects a slower increase in 787 production rate and deliveries due to supplier shortages on key parts, but intends to meet strong demand.
Full articleSummary: Boeing expects a slower increase in production rate and deliveries of its 787 widebody jets due to supplier shortages on key parts.
Full articleSummary: IBM is utilizing artificial intelligence (AI) to support sustainable building operations, resulting in achievements such as LEED Platinum certification for green neighborhood development
Full articleSummary: Microsoft has announced the launch of Phi-3-Mini, Phi-3-Small, and Phi-3-Medium language models, which are highly capable and more efficient than their predecessors. The Phi-3-Mini model is specifically designed to run on mobile phones, showcasing impressive performance levels on benchmark tests.
Full articleSummary: Apple has acquired Paris-based AI firm Datakaleb, focusing on compression of algorithms, including AI image analysis and facial recognition. The acquisition aims to reduce the size of Large Language Modules for the iPhone.
Full articleSummary: Google fired over 20 more workers who participated in protests against the company's cloud computing deal with the Israeli government, bringing the total to over 50, sparking a public fight between managers and fired employees.
Full articleSummary: Boeing expects slower increase in production rate and deliveries of its 787 widebody jets due to supplier shortages on key parts. The company still plans to meet strong demand but anticipates a delayed production rate increase. Boeing is under scrutiny for manufacturing issues on its 777 and 787 widebody jets, with concerns raised about the quality and safety culture of the production process.
Full articleSummary: The Bank of New York Mellon VP Catherine Keating sold a significant number of shares, company reported increased quarterly earnings, announced a dividend, and received positive analyst ratings and price target boosts.
Full articleSummary: Rivian is offering discounts up to $5,000 on its EVs to customers who trade in their gas-powered trucks and SUVs, along with a year of free charging. The deal targets popular models like Ford F-150, Toyota Tacoma, Jeep Wrangler, Audi, and BMW. Customers must take delivery by June 30 and the incentives aim to boost sales amidst softening demand for luxury EVs.
Full article