René Muñoz, the chief of staff of California Democrat Lou Correa, has recently been found to have lobbied on behalf of Amazon and Apple. This has come to light at a time when Muñoz is serving as the chief of staff to the new top Democrat on the House Judiciary subcommittee on antitrust. He had
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Microsoft shares have reached a record high, rising by 3.2% to close at $348.10, following JPMorgan Chase’s report on the software company’s growth potential in artificial intelligence (AI). This record high exceeded the previous all-time high the company reached in November 2021, the same month that Nasdaq peaked. U.S. indexes experienced a broad rally following
According to Piper Sandler, investors can have greater confidence in Meta Platform’s outlook. The firm’s analyst, Thomas Champion, raised his price target on Facebook’s parent company on Wednesday. Champion stated that the social media firm has been strengthening its Reels and building out its artificial intelligence (AI) strategy. He also noted that Meta continues to
David Ricks, the CEO of Eli Lilly, has expressed concerns over the potential harm that Medicare price negotiations could cause to drug development in the US. The negotiations are aimed at cutting costs for older Americans, but Ricks believes that they could have an unintended consequence of limiting investment in small-molecule drugs, which are considered
Illumina’s acquisition of Grail, a cancer-test developer, has been met with opposition from the Federal Trade Commission (FTC) due to concerns that it stifles competition. The deal, worth $7.1 billion, closed nearly two years ago. However, the FTC has ordered Illumina to undo the deal, prompting the San Diego-based DNA-sequencing company to appeal the ruling.
Bank of America has reported that the S&P 500 is displaying a “rare signal” which indicates that the market rally has significant potential. Technical strategist Stephen Suttmeier stated that the S&P 500 closed at a new 52-week high for the first time in 525 calendar days on Monday. This milestone supports the bull case for
After more than 40 years of hosting the popular game show “Wheel of Fortune,” Pat Sajak has announced that he will be stepping down as host next year. In a tweet on Monday night, Sajak revealed that the upcoming 41st season, which begins in September, will be his last. He expressed gratitude to his fans
Experts claim that global warming is making the weather conditions that generate tornadoes more frequent and widespread, which is leading to a surge in the number of areas that are affected. Climate Central reports that the U.S. has experienced six times more billion-dollar severe storms in the past decade than in the previous two decades,
Amazon is using artificial intelligence (AI) to help customers find the right product by summarizing customer reviews on some products. The feature provides a brief overview of what shoppers liked and disliked about the product, along with a disclaimer that the summary is “AI-generated from the text of customer reviews.” AI-generated Summaries Amazon began testing
Tesla, the electric vehicle maker, was identified as the most overbought stock this week based on the “relative strength index” (RSI), a commonly used metric, which showed investors piling into the company. The RSI enables investors to measure the speed and magnitude of recent price changes, which can indicate potential overbought or oversold conditions in