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May 15, 2024 9:22 AM - Davit Kirakosyan
Sony Stock Gains 6% on Stock Buyback and Stock Split Announcement
Sony's (NYSE:SONY) shares rose more than 6% yesterday following the announcement of a significant stock buyback and a stock split, which helped to mitigate the impact of disappointing annual earnings and lukewarm guidance. Sony plans to repurchase 250 billion yen ($1.6 billion) of its own shares and...
May 15, 2024 9:16 AM - Davit Kirakosyan
Colgate-Palmolive’s Price Target Boosted at Argus
Argus analysts increased their price target on Colgate-Palmolive (NYSE:CL) to $107 from $97, while maintaining a Buy rating on the stock. The analysts praised Colgate-Palmolive as a well-established company with leading brands and expressed a positive outlook on the company's products that incorpora...
May 15, 2024 9:13 AM - Davit Kirakosyan
Snowflake’s Price Target Slashed at BofA Securities
BofA Securities analysts reduced the price target on Snowflake (NYSE:SNOW) to $200 from $212, while continuing to give the stock a Neutral rating. The analysts discussed the expected Q1 results for Snowflake, scheduled for release on May 22. To forecast product revenue, the analysts refer to Similar...
May 15, 2024 9:10 AM - Davit Kirakosyan
Nextracker Soars 14% on Q4 Beat
Despite low expectations going into the earnings, Nextracker (NASDAQ:NXT) delivered impressive fourth-quarter results, with EBITDA increasing by 23%. EPS of $0.96 and revenue of $736.52 million came in above the Street estimates of $0.55 and $674.4 million, respectively. As a consequence, shares gai...
May 15, 2024 9:07 AM - Davit Kirakosyan
monday.com Stock Surges 19% Following Q1 Beat
monday.com (NASDAQ:MNDY) shares jumped more than 19% pre-market today after the company outperformed expectations in its first-quarter financial report, posting earnings per share of $0.61, surpassing the analyst forecast of $0.40. The company also exceeded revenue expectations with $216.9 million r...
May 15, 2024 9:04 AM - Davit Kirakosyan
Dole Stock Gains 3% Following Q1 Results
Dole (NYSE:DOLE) shares rose nearly 3% pre-market today after the company reported a first-quarter EPS of $0.43, exceeding the analyst prediction of $0.33. The company's revenue for the quarter was $2.12 billion, aligning with the consensus estimate. Looking ahead to the fiscal year 2024, Dole expre...
May 15, 2024 6:59 AM - Parth Sanghvi
OpenAI's Spring Update Unveils GPT-4o and AI at the Edge
OpenAI, the maker of ChatGPT, made waves during its "Spring Update" event with several exciting announcements, including the launch of its most advanced model yet, GPT-4o. The event showcased a new desktop app, a web UI refresh, and demonstrated the potential of AI at the edge, particularly on Apple...
May 15, 2024 6:58 AM - Parth Sanghvi
Boeing Faces DOJ Scrutiny Over Compliance Failures
The U.S. Justice Department (DOJ) has taken Boeing to task, alleging the aerospace giant failed to uphold its obligations under a 2021 agreement, a pact meant to shield the company from criminal prosecution following the fatal 737 MAX crashes in 2018 and 2019. These crashes claimed the lives of 346 ...
May 15, 2024 6:57 AM - Parth Sanghvi
Retail Favorites GameStop and AMC Surge on "Roaring Kitty" Posts
GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) witnessed a substantial uptick in their Frankfurt-listed shares on Wednesday, extending the rally that began earlier in the week. This surge comes on the heels of cryptic posts from Keith Gill, popularly known as "Roaring Kitty", a central figure ...
May 15, 2024 6:56 AM - Parth Sanghvi
Mizuho Financial Group Reports Strong Fourth-Quarter Profit, Forecasts Higher Earnings
Mizuho Financial Group announced a significant surge in fourth-quarter profit on Wednesday, surpassing expectations, driven by robust performance in its overseas business and increased demand for loans domestically. The financial giant also projected higher profits for the current financial year, si...
May 15, 2024 6:55 AM - Parth Sanghvi
Allianz Surpasses Expectations with Strong First-Quarter Performance
Germany's insurance giant Allianz (ETR:ALVG) reported a remarkable 22% increase in first-quarter net profit, exceeding market expectations, buoyed by robust performance in its property and casualty insurance segment. The company's stellar financial results underscore its resilience and strategic exe...
May 15, 2024 6:54 AM - Parth Sanghvi
Electric Vehicle Sales Surge in China, BYD Leads the Pack
Recent data from Morgan Stanley reveals a remarkable surge in electric vehicle (EV) sales in China, outpacing internal combustion engine vehicle (ICEV) sales during the week. With EV penetration recovering to 45%, local brands have dominated the market, with BYD (SZ:002594) emerging as the clear lea...
May 15, 2024 6:53 AM - Parth Sanghvi
OpenAI's Spring Update Sends Ripples Through Tech Giants
OpenAI's recent Spring Update event has sparked significant reactions from analysts, particularly in relation to its implications for tech giants like Apple (AAPL) and Google (GOOGL). Rosenblatt analysts hailed the update as "impressive," emphasizing the superiority of ChatGPT-4's natural languag...
May 15, 2024 6:52 AM - Parth Sanghvi
Chinese Stocks Rally: What's Driving the Surge?
Chinese stocks have been on a remarkable uptrend since early April, delivering impressive returns in US dollar terms. Major indexes like MSCI China, Nasdaq Golden Dragon, and CSI 300 have all rebounded sharply from their late January lows, indicating a resurgence of investor confidence in Chinese eq...
May 15, 2024 6:51 AM - Parth Sanghvi
S&P 500 Index: Analyzing the Recent Rebound
he S&P 500 Index has staged a notable rebound from its initial downside targets near 5000, reclaiming ground above the March-April pattern breakdown area and the 50-day moving average. According to JPMorgan technical strategists, this movement has disrupted the tactical bearish trend momentum, creat...
May 15, 2024 6:50 AM - Parth Sanghvi
Amazon Web Services (AWS) Announces €7.8 Billion Investment in Germany
Amazon Web Services (AWS), the cloud computing powerhouse of Amazon (NASDAQ:AMZN), has unveiled plans to invest €7.8 billion ($8.4 billion) in Germany by 2040. This significant investment is aimed at building a robust cloud computing infrastructure tailored specifically for Europe. As part of thi...
May 15, 2024 6:49 AM - Parth Sanghvi
New York Community Bancorp (NYSE: NYCB) Agrees to $5 Billion Mortgage Loan Sale to JPMorgan Chase (NYSE: JPM)
New York Community Bancorp (NYCB) witnessed a surge in its share price, climbing nearly 5% in premarket trading on Wednesday, following its agreement to sell a portfolio of approximately $5 billion in mortgage warehouse loans to JPMorgan Chase (JPM), the largest U.S. bank by assets. The deal, ann...
May 15, 2024 6:48 AM - Parth Sanghvi
Meme Stock Rally Continues: GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) Surge Again
GameStop (GME) and AMC Entertainment (AMC) extended their remarkable rally into a second day during early U.S. trading on Tuesday, as the resurgence of interest in so-called meme stocks gathered momentum. The rally, sparked by the return of a key figure from the 2021 meme stock frenzy, saw both stoc...
May 15, 2024 6:47 AM - Parth Sanghvi
Huawei Ramps Up Retail Strategy, Opens Flagship Stores to Challenge Apple in China
Huawei, the Chinese tech giant, is making bold moves to reclaim its dominance in the premium electronics market in China by revamping its retail strategy and aggressively opening flagship stores. Positioned strategically, some of these stores are located just steps away from Apple's iconic flagship ...
May 15, 2024 5:00 AM - Gordon Thompson
Plus Therapeutics, Inc. Gears Up for Q1 2024 Earnings Release
Plus Therapeutics, Inc. (NASDAQ:PSTV), a clinical-stage pharmaceutical company, is gearing up to share its quarterly earnings on Thursday, May 16, 2024, after the market closes. Specializing in the development of targeted radiotherapeutics for central nervous system cancers, PSTV's financial perform...
