Summary: Nike has conducted layoffs at its headquarters as part of efforts to streamline corporate management structure. The company has faced challenges from a tepid market and tough competition both domestically and internationally, resulting in a significant drop in its share price amidst flat revenue and decreased net income. The CEO is aiming to drive the company's next growth chapter, but his plans have not seen success so far.
Full articleSummary: The Nasdaq Composite fell for a sixth straight session, hit by Nvidia's dive amid geopolitical conflicts and inflation concerns. The Dow Jones Industrial Average managed to rise driven by American Express' rally following earnings. Tech and chip stocks faced pressure, with Netflix, Nvidia, and Super Micro Computer experiencing significant declines.
Full articleSummary: Authorities in China ordered Apple to remove popular messenger and social media services from the App Store due to concerns about national security and the spread of negative content about the government.
Full articleSummary: BlackRock has acquired shares in two Indian companies, Electrosteel Castings and PTC India Ltd, amounting to Rs 207 crore. iShares Global Clean Energy ETF acquired shares of PTC India, and iShares Global Water UCITS ETF bought shares of Electrosteel Castings.
Full articleSummary: The Hong Kong Monetary Authority fined JPMorgan Chase & Co's Hong Kong branch $1.60 million for breaching anti-money laundering and counter-terrorist financing rules. The firm failed to establish effective procedures regarding wire transfers and customer due diligence.
Full articleSummary: Concerns raised by a Boeing quality engineer regarding the safety of the Boeing 787 Dreamliner aircraft have led to calls for a thorough inspection and possible grounding of the fleet, with disagreements over the potential risks and safety records of the aircraft.
Full articleSummary: Ferry firm Stena Line is playing a key role in the transportation of Pfizer's COVID-19 vaccine and is prepared for any eventuality in Brexit trade talks.
Full articleSummary: Coca-Cola Co to increase investments in Argentina by $1.2 billion from 2019 to 2021, supporting President Macri's government during economic challenges.
Full articleSummary: Amazon denied reports of producing its own networking switches, confirming its strong partnership with Cisco. Cisco's stock surged up to 3.6% in after-hours trading following the clarification.
Full articleSummary: General Dynamics Corp's jet aviation business is likely to be impacted by Western sanctions on Moscow over its invasion of Ukraine. The company expects some impact on its managed airplane business as well.
Full articleSummary: Ford Motor Company (F) investors have experienced volatility over the past decade, with the stock price bouncing around. Despite this, investing in the company back in 2014 would have resulted in a positive return. The company has a long history dating back to 1903, and has seen significant growth and acquisitions over the years.
Full articleSummary: Sen. Elizabeth Warren is calling for an end to Apple's 'monopoly' by criticizing the company's use of green text messages as a way to lock Americans into services and profit from its market dominance. She highlighted dirty tactics like excluding non-iPhone users from group texts and blocking apps aiming for interoperability.
Full articleSummary: The stock market suffered sharp losses, especially the Nasdaq and leading growth plays. Several key tech and AI stocks plunged during the week. Earnings from Microsoft, Meta Platforms, and Tesla are on deck, with enormous implications for their sectors and the overall market.
Full articleSummary: Oversea Chinese Banking Corp Ltd significantly increased its position in Intuit Inc. during the fourth quarter, while multiple other hedge funds and institutional investors also added to their stakes in the company. Additionally, several analysts have raised their target prices and ratings for Intuit. The stock traded down slightly by 0.5%.
Full articleSummary: Criterion Capital Advisors LLC acquired a new stake in Medtronic plc during the 4th quarter, with several other institutional investors also increasing their stakes. Insider selling activities were reported at Medtronic. The company announced a quarterly dividend, and analysts have provided various ratings for Medtronic stock.
Full articleSummary: South African researchers released preliminary data showing Pfizer-BioNTech's COVID-19 vaccine to be about 70% effective at preventing hospitalization during the Omicron variant-driven fourth wave in the country. Hospitalization rates have been 29% lower than during the previous Delta wave.
Full articleSummary: abrdn plc increased its stake in Gilead Sciences, Inc. by 89.0% in the 4th quarter, according to its most recent 13F filing. Institutional investors own 83.67% of the company's stock. Gilead Sciences reported a quarterly earnings miss but announced an increased quarterly dividend, signifying confidence in future performance.
Full articleSummary: Calamos Wealth Management LLC significantly increased its stake in Danaher Co. (NYSE:DHR) in the 4th quarter, along with several other institutional investors and hedge funds. Analyst ratings for Danaher have been positive, with a consensus rating of 'Moderate Buy' and an average price target of $268.27. Insiders have recently been actively buying and selling shares of Danaher. The company's stock performance has been strong, with a market capitalization of $174.41 billion. Danaher's last quarterly earnings results beat analysts' estimates, and the company has increased its dividend.
Full articleSummary: Bank of America is set to introduce a mobile banking service for all of its 21 million online banking customers, allowing them to check account balances, pay bills, and transfer money using their cell phones and smartphones.
Full articleSummary: Daiwa Securities Group Inc. increased its position in Johnson Controls International plc by 57.3% in the fourth quarter, while other hedge funds also added to their stakes in the company. Multiple brokerages have recently changed their target prices and ratings for JCI stock. Johnson Controls International recently reported its earnings and announced a quarterly dividend.
Full articleSummary: Nike plans to lay off approximately 740 positions at its global headquarters in Oregon to control expenses amidst expected revenue decline in fiscal year 2024-25. The company previously unveiled a cost-saving initiative aiming to achieve $2 billion in savings over three years and intended to reduce 2 per cent of its workforce, equating to over 1,600 positions.
Full articleSummary: abrdn plc increased its position in International Business Machines Co. by 22.8% in Q4, total worth $193,793,000. Various other hedge funds also made changes to their positions in the company. IBM's stock traded up 0.1%.
Full articleSummary: AI stocks, including NVIDIA(NVDA) and Super Micro Computer(SMCI), experienced significant sell-offs following disappointing earnings reports from companies like Taiwan Semiconductor(TSM) and ASML. Despite the recent sell-off, NVIDIA is still up 58% year-to-date. The sell-off may potentially impact the decision of an NVIDIA stock split, with market conditions playing a crucial role in management's priorities.
Full articleSummary: Dell is offering a high-end 4K gaming PC, Dell XPS 8960, with RTX 4090 at a discounted price of $2,250, which includes a big $800 price cut and a coupon code for further discount.
Full articleSummary: Lawmakers are pressing big banks to enhance anti-fraud defenses against wire fraud, due to its significant impact on consumers' savings and finances. Banks are urged to provide more data on wire fraud and improve fraud prevention and reimbursement practices.
Full articleSummary: Costco is cracking down on nonmembers using its food court, tightening policies that were previously lax in enforcement. This change is seen as a way to protect the integrity of the membership program and reward paying members.
Full articleSummary: Microsoft-owned games dominated the PlayStation Store charts, Fallout games experienced a surge in popularity due to the Fallout TV show, and Microsoft and OpenAI are investing in a new AI project called Stargate.
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