Summary: Nike announces a second wave of layoffs, this time impacting 740 employees at its headquarters in Beaverton, Oregon. The company had previously announced a 2% global workforce reduction of around 1,600 employees earlier this year.
Full articleSummary: Capital Analysts LLC reduced its position in International Paper by 17.4% in the fourth quarter, while other institutional investors also adjusted their stakes. Insider transactions were reported, and the stock had a mix of ratings by Wall Street analysts.
Full articleSummary: Major US banks, including Citigroup and Wells Fargo, are experiencing billions of dollars in deposit flight. JPMorgan Chase also expects flat to modestly decreasing deposit balances, with its CEO warning of potential crisis if the Federal Reserve raises interest rates.
Full articleSummary: Microsoft CEO Satya Nadella successfully negotiated a $1.5 billion agreement with Abu Dhabi-based firm G42, severing its connections with China and furthering AI technologies.
Full articleSummary: Ford is releasing a limited-edition 60th-anniversary package for the 2025 GT Premium model of the Mustang, featuring cosmetic changes inspired by the classic 1965 Mustang including unique wheels, centre cap design, exterior badges, grille design, and different colour options. Interior also includes special badges and colour options among the limited 1,965 units being produced.
Full articleSummary: FedEx pledges $25 million over 5 years for University of Memphis athletes, facilitated by Altius Sports Partners. Program to focus on football, men’s and women’s basketball, and other women’s sports.
Full articleSummary: Boeing, known for safety issues, plans to develop flying cars by end of the decade.
Full articleSummary: Nike plans to lay off 740 employees at its Oregon headquarters as part of a cost-cutting measure in a three-year plan to reduce $2 billion in costs, while the company forecasts a decline in revenue for the first half of its 2025 fiscal year.
Full articleSummary: Vicus Capital decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 7.7% during the 4th quarter, with several other large investors also making changes to their positions. Insider transactions included stock sales by company directors and the CEO. Wall Street analysts have provided mostly positive ratings for CL shares. Colgate-Palmolive reported a quarterly earnings beat, with an increase in revenue and dividend payout.
Full articleSummary: Lodestar Private Asset Management LLC trimmed its stake in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Several other institutional investors also modified their holdings of JPM. Insider activity includes significant stock sales by CEO Jennifer Piepszak and CEO James Dimon. JPMorgan Chase & Co. increased its dividend and has a positive dividend yield of 2.48%.
Full articleSummary: Japan's government-backed technology institute collaborating with Nvidia to build a hybrid supercomputer with quantum computing capability for researchers and companies.
Full articleSummary: Criterion Capital Advisors LLC bought a new position in RTX Co. during the 4th quarter, adding 21,299 shares valued at $1,792,000. Several other institutional investors and hedge funds also increased their stakes in RTX. RTX announced a quarterly dividend of $0.59 per share, yielding 2.32%. Several Wall Street analysts have issued ratings on RTX, totaling an average price target of $94.44.
Full articleSummary: Analyst Chris Olin from Northcoast Research predicts a bleak outlook for Boeing (BA) citing a 35% stock decline YTD and anticipates a 'classic kitchen-sink' quarterly report with potential negative earnings and FCF targets. Olin has downgraded the stock from Neutral to Sell with a $140 price target, implying an 18% drop from current levels.
Full articleSummary: Union Pacific (UNP) closed at $194.21, marking a -0.85% move from the previous day, with upcoming earnings release expected on April 20, 2023. Analysts have positive estimate revisions, leading to a Zacks Rank of #3 (Hold). UNP is trading at a Forward P/E ratio of 17.13, in line with industry average.
Full articleSummary: Nike plans to lay off 740 employees at its Oregon headquarters before June 28 as part of a three-year plan to cut $2 billion in costs. The company aims at cost reductions due to forecasting a decline in revenue during the first half of its 2025 fiscal year.
Full articleSummary: OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of Salesforce, Inc. by 15.2% in the fourth quarter. The firm owned 245,034 shares of CRM provider's stock after selling 43,920 shares. Institutional investors own 80.43% of the company's stock. Analysts forecast that Salesforce will post 7.45 EPS for the current year.
Full articleSummary: Large US banks are experiencing billions of dollars in deposit flight, with Citigroup and Wells Fargo seeing reductions of $23.3 billion and $15.1 billion respectively. JPMorgan Chase reports a 7% decrease in its Consumer & Community Banking division, with CEO Jamie Dimon warning of a potential crisis if the Federal Reserve raises interest rates.
Full articleSummary: SVB Wealth LLC increased its holdings in Canadian National Railway by 21.0%, with the institutional investor now owning 7,486 shares worth $940,000. Other institutional investors, such as Avantax Advisory Services Inc. and Spire Wealth Management, have also added to their stake in the company. Wall Street analysts have issued various ratings for the stock, with an average price target of $147.52. Canadian National Railway recently increased its dividend to $0.638 per share.
Full articleSummary: Over 200 FedEx employees in southwest Florida at risk of losing jobs due to merger and closure of four local sites.
Full articleSummary: Federated Hermes Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.7% in the fourth quarter, with other institutional investors also making changes. Bank of New York Mellon reported a strong quarterly earnings beating analysts' estimates and announced a quarterly dividend. Additionally, the stock has received multiple analyst upgrades and maintained a 'Moderate Buy' rating with an average price target of $60.06.
Full articleSummary: Boeing is facing technical issues and whistleblower complaints which have raised concerns about the safety and quality of its aircraft, prompting investigations by the US Federal Aviation Administration and scrutiny from the US Senate. The allegations involve safety concerns regarding assembly processes on Boeing 787 and 777 jets.
Full articleSummary: Semiconductor stocks like Nvidia, Intel, ARM Holdings(NASDAQ: ARM), and AdvancedMicroDevices all crashed on Friday, but the Motley Fool Stock Advisor analyst team did not recommend Arm Holdings as one of the top 10 best stocks for investors to buy now.
Full articleSummary: PayPal Holdings (PYPL) ended a seven-day losing streak by closing 0.34% higher at $62.31. Short interest stood at 2.07% as of March 31. Analysts rate the stock as Buy with a price target averaging at $72.74. PayPal's new management is implementing changes to boost market confidence, and the company is set to report Q1 earnings on April 30.
Full articleSummary: Criterion Capital Advisors LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, with several other institutional investors and hedge funds also modifying their holdings of AMGN. Analysts have set new price targets for AMGN indicating positive sentiments towards the stock.
Full articleSummary: A group of state financial office holders sent a letter to the CEO of Bank of America accusing the bank of harming civil liberties with its de-banking policies against conservative customers.
Full articleSummary: Capital Management Corp VA reduced its position in Bristol-Myers Squibb by 15.1% in the 4th quarter, selling 32,528 shares. Other hedge funds also made changes in their positions. Bristol-Myers Squibb recently reported $1.70 EPS for the quarter, beating the consensus estimate. The company announced a quarterly dividend of $0.60 per share.
Full articleSummary: PepsiCo, a key Tesla customer, has only been using 36 of the 100 Tesla Semis it made initial payments for in 2017. Other potential Tesla customers like Sysco, UPS, and Walmart Canada are turning to rival electric-truck makers due to delays in Tesla's Semi deliveries. Tesla's struggles with the Semi production come at a time when its growth in consumer electric vehicles has slowed, leading to price cuts and impacted margins.
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