Summary: Caitlin Clark signed a lucrative $28 million, 8-year deal with Nike, making it the most lucrative shoe deal in women's basketball history. Nike outbid competitors like Adidas and Under Armour to secure the deal. Indiana Fever, the team where Clark plays, is the most bet on team to win the WNBA championship.
Full articleSummary: Reserve Bank of Australia Governor Philip Lowe hinted at potential interest rate hikes in the near-term to combat high inflation. Inflation is still well above the target range of 1% to 3%, with the bank expecting to conduct further tightening of monetary policy. Australian economic growth is predicted to be below average as effects of tighter policies are incorporated into the economy.
Full articleSummary: Boeing whistleblower claims fatal flaws in 787 jets leading to safety threats and reduced lifespan, while Boeing denies allegations and expresses full confidence in Dreamliner's structural integrity. Claims under investigation by FAA. Another whistleblower's mysterious death raises suspicions.
Full articleSummary: FTX investors have finalized a settlement with former CEO Sam Bankman-Fried to end legal disputes and gain his cooperation in lawsuits against celebrity endorsers, including Tom Brady, Stephen Curry, and others. The settlement, pending court approval, aims to resolve all claims against Bankman-Fried and secure his assistance in the class action against FTX.
Full articleSummary: The stock market suffered sharp losses last week, especially Nasdaq and leading tech stocks. Earnings reports from Microsoft (MSFT), Meta Platforms (META), Google parent Alphabet (GOOGL), and Tesla (TSLA) are highly anticipated. Tesla cut EV and FSD prices over the weekend, sparking questions about its growth strategy.
Full articleSummary: United Parcel Service, Inc.'s stock price increased by 0.7% during mid-day trading on Friday, with analysts providing mixed ratings and price targets for the company. The company also reported a decrease in trading volume compared to the average session volume.
Full articleSummary: Nvidia Inc. (NVDA) stock has experienced a significant decline in value recently, causing put premiums to be exceptionally high. Despite market concerns about Nvidia's future performance in chip-designing, analysis indicates potential for substantial revenue growth and free cash flow (FCF) estimates, suggesting the stock is undervalued. Shorting out-of-the-money puts is seen as an attractive strategy to generate income and capitalize on the perceived undervaluation of NVDA stock.
Full articleSummary: Several financial officials raised concerns about Bank of America's de-banking practices against religious ministries, leading to accusations of religious and political bias. The officials demanded the bank to implement recommendations to eliminate discriminatory terms and commit to not discriminate based on religion or politics.
Full articleSummary: Google announced the consolidation of internal teams focusing on building AI models within Google DeepMind, aiming to further advance their Gemini models and deliver advanced AI applications. Additionally, responsible AI teams are being moved to DeepMind for better integration.
Full articleSummary: Google announced the consolidation of internal teams focused on building AI models within Google DeepMind, aiming to accelerate progress in delivering advanced and responsible AI. The move also includes relocating Responsible AI teams from Research to DeepMind.
Full articleSummary: Nate Lowe of the Texas Rangers will face Darius Vines and the Atlanta Braves on Sunday at 7:10 PM ET on ESPN. Lowe had a .262 batting average last season with 17 home runs and 93 walks. His prop bets for the upcoming game include hits, home runs, RBIs, runs, and total bases.
Full articleSummary: Equifax had its price objective decreased by Bank of America analysts from $300.00 to $255.00 with a 'buy' rating, indicating a potential upside of 17.95%. Despite some other analysts' downgrades, overall sentiment remains positive with an average rating of 'Moderate Buy' and a consensus target price of $266.35. The company recently reported earnings above expectations and is anticipated to post 7.34 earnings per share for the current year.
Full articleSummary: Disney character performer, Sophia Dottir, was terminated by Disney after sharing a video discussing her experiences and violating character integrity rules by posting photos of herself dressed as Snow White on social media.
Full articleSummary: United flight #UA260 experienced a mechanical issue shortly after departing from Washington to Madrid, prompting a return to the airport with a 5-hour delay in arrival at the destination. This incident adds to the recurring technical issues United has been facing, particularly with its Boeing 767 fleet.
Full articleSummary: Iran launched a direct attack on Israel using UAVs, cruise missiles, and ballistic missiles from its own territory, as a departure from the usual method of operation through proxies. Israel successfully defended itself with a multi-layered defense system, and retaliated by targeting key elements of Iranian defense infrastructure. Despite US reluctance to approve a direct response, Israel emerged triumphant in both defense and offense.
Full articleSummary: Nvidia Inc. stock has dropped significantly since the end of March, leading to high put option premiums which makes it attractive for shorting. Analysts project higher revenue and free cash flow for Nvidia, suggesting the stock is undervalued. Shorting out-of-the-money puts can provide good income and downside protection.
Full articleSummary: Despite the pessimistic forecasts of a U.S. recession, consumer spending remains strong, with people swiping credit cards more often. Bank of America's metrics indicate a decrease in spending growth and increase in delinquencies on credit card loans, although its customer base is resilient with high average FICO scores.
Full articleSummary: Despite forecasts of a U.S. recession, consumer spending remains strong, particularly in credit card usage. Bank of America's first-quarter earnings reveal decreased revenue and net income, with higher consumer credit card charge-offs. Delinquency metrics are being closely watched to assess consumer spending trends and financial health.
Full articleSummary: Bank of America (NYSE:BAC) was upgraded by Wolfe Research from a 'peer perform' rating to an 'outperform' rating with a target price of $42.00, indicating a potential upside of 13.61%. Various analysts have issued mixed ratings with an average price target of $38.53. Bank of America also reported positive quarterly earnings results, beating analysts' estimates.
Full articleSummary: Apple has reportedly shut down FineWoven production lines, leading to speculation about the future of the material. The durability and stain resistance of FineWoven have been criticized, prompting a potential shift to another material. However, Apple Watch bands, made from a different material, have been performing better in terms of durability.
Full articleSummary: Citigroup Inc. insiders have been net sellers over the past year, with the largest sale made by Andrew Morton, Head of Markets, selling approximately US$1.1 million worth of shares below the current market price.
Full articleSummary: Oracle continues to strengthen its position in the AI database market through its Oracle Database 23c system and recent partnership with Palantir. The company's fundamental business shows growth and beat expectations. The partnership with Palantir is expected to accelerate growth and help clients realize benefits of cloud and AI. Oracle's focus on AI databases and integration of AI capabilities into database technologies position them as a strong player within the AI wave.
Full articleSummary: NVIDIA employee reveals that despite the company's soaring stock price, not all employees become millionaires due to stock units and taxes, many face high expenses and housing costs, and there's a limit on the number of shares they can receive. The CEO, Jensen Huang, has become one of the world's richest men.
Full articleSummary: Civil Aviation Minister of Bangladesh directed Biman Airlines to contact Boeing regarding safety concerns on Boeing 787 model planes raised by a former engineer, while Boeing defends the structural integrity of its aircraft.
Full articleSummary: Starbucks is introducing new disposable cups that contain up to 20% less plastic to address the growing plastic waste caused by booming sales of cold drinks. The company plans to roll out the new cups in the U.S. and Canada starting this month, aiming to keep more than 13.5 million pounds of plastic out of landfills each year. Starbucks also made other changes like raised dots for cup size identification and a reusable cup program in select regions.
Full articleSummary: Oracle's underperformance in the stock market compared to the Nasdaq-100 Technology Sector index could change due to the growing demand for AI solutions. Oracle is expected to see improvements in revenue growth and could potentially become a trillion-dollar company by 2030. The company's focus on cloud-based AI services has already shown positive results in its financial performance.
Full articleSummary: Blackstone's target price was reduced by Bank of America from $141.00 to $132.00 with a 'buy' rating, indicating a potential upside of 11.49%. The stock currently has a consensus rating of 'Hold' with a target price of $118.92. Blackstone's trading was down by 1.6% on Friday.
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