Summary: University at Buffalo to launch Empire AI research center as part of state budget deal, with the goal of accelerating AI research and innovation while tackling societal challenges, including in medicine and education.
Full articleSummary: Intercontinental Exchange (NYSE:ICE) is considering the possibility of implementing 24/7 trading, which caused a slight increase in its stock price. However, a report suggests that the stock market performs best when closed, raising concerns about the impact on SPDR S&P 500 ETF (NYSEARCA:SPY) if trading hours are extended.
Full articleSummary: Calamos Wealth Management LLC increased its holdings in Exxon Mobil Co. by 4.7% in the fourth quarter, with various other hedge funds and institutional investors also buying shares. Exxon Mobil recently reported quarterly earnings data, surpassing the consensus estimate. Several research firms have set new price targets for XOM with buy and hold ratings.
Full articleSummary: Cisco and Morgan Solar are piloting a project to power collaboration and meeting spaces with solar energy, leveraging Energy Blinds and Power-over-Ethernet switch.
Full articleSummary: Oragenics, a biotech company, is out of compliance with NYSE listing standards due to insufficient stockholders' equity. The company must submit a plan by May 18 to regain compliance, or risk delisting procedures by Oct. 18, 2025. Oragenics is focused on nasal delivery of pharmaceuticals for neurological disorders and infectious diseases.
Full articleSummary: S & P 500 was on pace to break a streak of six down days, Wells Fargo hit a new 52-week high, Ford rallied after Tesla's price cuts, Abbott Laboratories seen as critical part of care, big companies reporting earnings after the bell.
Full articleSummary: Portfolio manager Mike Vinokur from MV Wealth Partners with iA Private Wealth commented on Nvidia Corp., mentioning that while the company is high-performing with superior chip performance, it may not be ideal for investment due to the current share price and uncertainties in the tech sector.
Full articleSummary: Airbus appoints former JetBlue CEO to head its North America arm, plans to increase its dominance over Boeing. Airbus shares rose by 1% following the announcement.
Full articleSummary: NuStar Energy L.P. (NYSE: NS) executives to participate in Wells Fargo Midstream, Utility & Renewables Symposium, materials to be available on website on December 8, 2021. NuStar Energy L.P. is a major player in liquids terminal and pipeline operations with operations in the U.S., Canada, and Mexico.
Full articleSummary: RBC Capital analyst raised price target on GE Aerospace stock to $165, implying 9.3% upside in next 12 months. Potential near-term disappointment on OEM side due to Boeing delivery disruptions, but aftermarket revenue likely to increase from older plane operation.
Full articleSummary: Capital One (COF) is expected to report first-quarter 2024 results with increases in earnings and revenues compared to the previous year. The company's non-interest expenses are anticipated to rise due to higher marketing costs and technology upgrades. Capital One inked an agreement to acquire Discover Financial Services in a $35.3 billion all-stock transaction.
Full articleSummary: Tesla Inc. down after cutting price of 'Full Self Driving' system, Salesforce Inc. up on abandoning acquisition plans, Verizon Communications Inc. down on revenue miss, Vista Outdoor Inc. up on potential sale discussions, AZZ Inc. up after beating financial forecasts, Zions Bancorp up on earnings beat, Cardinal Health Inc. down after contract decision, Matterport Inc. up on acquisition by CoStar Group.
Full articleSummary: NuStar Energy L.P. (NYSE: NS) will participate in meetings with the investment community at the 2022 Wells Fargo Midstream and Utility Symposium on December 7-8, 2022.
Full articleSummary: Medtronic announced the launch of its next-generation Avalus Ultra surgical aortic tissue valve, offering various features and advancements over its previous version.
Full articleSummary: Mall retailer Express will close more than 100 stores as part of a Chapter 11 bankruptcy proceeding, with investors seeking to buy most of its assets. The company plans to shutter about 95 Express stores and all its UpWest stores, with 100 store closures announced in total. Express has a nonbinding letter of intent for potential sale to a consortium led by brand manager WHP Global, Simon Property Group, and Brookfield Properties.
Full articleSummary: Aaron LaBerge, the chief technology officer at Walt Disney Co., is leaving for the same job at Penn Entertainment Inc., operator of the ESPN Bet sportsbook.
Full articleSummary: Gilead Sciences Inc. is set to report first-quarter 2024 results with expected decline in HIV sales and missed estimates for Biktarvy and Descovy. Sales are likely boosted in Liver Disease portfolio and Cell Therapy product. Operating expenses remained flat sequentially. Investors will focus on pipeline updates. Earnings history shows average negative surprise. Gilead's shares have lost 17.6% year to date.
Full articleSummary: Bristol-Myers Squibb Company is scheduled to report first-quarter 2024 results, with expectations of boosted revenues from in-line and new product portfolio sales. Key drugs like Opdivo, Eliquis, Pomalyst, and Yervoy are expected to contribute to revenue growth. Operating expenses are projected to increase due to the Mirati acquisition and new product launches. Recent acquisitions of Mirati Therapeutics, Karuna Therapeutics, and RayzeBio have added to Bristol-Myers' oncology portfolio.
Full articleSummary: Japan's trade watchdog gave Google the opportunity to voluntarily alter practices it said set unfair restrictions on competitors. The Japan Fair Trade Commission determined that Google's restrictions on Yahoo compromised the digital advertising market in Japan. The commission found Google to have about a 90% share of the search market, making their demands nearly impossible for Android manufacturers.
Full articleSummary: Wells Fargo analyst maintained a Hold rating on Allegion with a price target of $141.00. The Street suggests a Hold analyst consensus rating with an average price target of $135.38. Negative insider sentiment was reported with an increase in insider selling of the ALLE stock.
Full articleSummary: Cardinal Health (CAH) shares plummeted as its lucrative distribution contracts with OptumRx (UNH) will not be renewed post-June, causing a significant impact due to the contracts' contribution to FY23 revenue. Despite maintaining long-term profitability goals and reiterating adjusted EPS forecast for FY24, concerns arise due to the absent revenue growth projection update and potential effects on free cash flow and share repurchase program.
Full articleSummary: AI stocks, including Nvidia and Supermicro, have faced a recent sell-off due to concerns about revenue results and potential competition. Analysts predict a downside for Nvidia and Supermicro, with Nvidia potentially falling by 19% and Supermicro by 65%.
Full articleSummary: ConocoPhillips (NYSE:COP) has outperformed the market over the past 5 years by 4.39% on an annualized basis with an average annual return of 15.65%. If an investor had bought $1000 of COP stock 5 years ago, it would be worth $2,030.09 today.
Full articleSummary: Bristol-Myers Squibb has partnered with contract manufacturer Cellares to enhance manufacturing capacity for its CAR-T therapies, including Abecma and Breyanzi, to supply patients in the US, Europe, and Japan. Cellares, known for its efficiency in cell therapy production through robotics and automation, has facilities in the US and plans to expand to Europe and Japan.
Full articleSummary: IHG Hotels & Resorts is set to enhance guest loyalty through Salesforce Loyalty Management, driving personalized experiences and efficiencies. IHG will standardize its CRM on Salesforce's Einstein 1 Platform to optimize guest interactions and foster stronger relationships with predictive AI capabilities.
Full articleSummary: UBS Global Research downgraded its rating of the 'Big Six' tech stocks (Apple, Amazon, Google-parent Alphabet, Meta, Microsoft, Nvidia) from Overweight to Neutral due to difficult comps and cyclical forces. The bank expects EPS growth of these stocks to decline to 16% in Q1 2025 from 42% in the same period this year. UBS anticipates that non-tech corporations' EPS will outpace the Big Six over the next 12 months.
Full articleSummary: Gold prices fell to a 1-week low as geopolitical tensions eased between Israel and Iran, despite an overnight attack on US forces in the Middle East. Silver hit 2-week lows. Federal Reserve is forecasted to cut rates by 0.34 percentage points in 2024.
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