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
US
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
The Pacific Maritime Association announced that the Port of Seattle shut down due to the International Longshore and Warehouse Union (ILWU) refusing to dispatch labor to work at the container terminals. This is part of the ongoing labor strife on the US West Coast, which has seen continuous worker slowdowns and stoppages all week, causing
General Motors (GM) has announced that it will save up to $400 million of its planned investment in building out electric vehicle (EV) charging infrastructure in the US and Canada after striking a deal with Tesla. The car manufacturer had planned to spend $750 million on this infrastructure, which would include home, workplace and public