March 25, 2021 8:51 am
Bank of America Securities analyst Michael Carrier raised his rating on Bank of New York Mellon (BK) from ”Underperform” to ”Buy”, while citing favorable revenue and earnings outlook. The firm also raised its 12-month price target on the stock from $43 to $50, which compares with a median price target of $49.00. According to Carrier, […]
Read moreMarch 24, 2021 10:38 am
Lockheed Martin Corp (LMT) on Tuesday announced a collaboration with communications provider Omnispace LLC, aimed to develop a space-based 5G network to be used by both commercial entities and government agencies. A 5G global network based in space is expected to allow users to switch between satellite and terrestrial networks, which would remove the need […]
Read moreMarch 24, 2021 8:43 am
Apollo Global Management Inc said earlier this week that Jay Clayton, former US Securities and Exchange Commission chief, had been appointed as non-executive chairman after company’s founder Leon Black revealed plans to step down from his executive roles. In January, Black, aged 69, agreed to step down from the post of Chief Executive Officer. Back […]
Read moreMarch 22, 2021 8:37 am
Facebook Inc (FB) has resolved a technical issue, which led to a global outage of its services, including Instagram. Reports in the media stated that the issue had affected Facebook’s online messaging services Whatsapp and Messenger as well. According to outage tracking website Downdetector.com, more than 1 million users had complained about having issues with […]
Read moreMarch 19, 2021 8:35 am
Alphabet Inc’s Google announced on Thursday plans to invest more than $7 billion in offices and data centers across the United States at a time when Internet traffic rises, as COVID-19-related restrictive measures prompted more users and advertisers to go online. The latest investment aims to expand Google’s data centers in Nebraska, South Carolina and […]
Read moreMarch 17, 2021 10:15 am
Microsoft Corp (MSFT) said on Tuesday that glitches causing problematic access to some services, including Teams and Outlook.com, had been fixed after an update roll back. In a tweet, the tech giant had said that the access issues were associated with a “recent change to an authentication system.” Microsoft shares closed higher for the fourth […]
Read moreMarch 17, 2021 8:30 am
Deliveroo said earlier this week that it aimed to sell nearly GBP 1 billion ($1.4 billion) of new shares in its upcoming initial public offering (IPO). The British company also said that the listing would include the sale of shares by some existing shareholders as well, which could potentially push the size of the deal […]
Read moreMarch 16, 2021 8:42 am
According to a report by Reuters, citing an internal memo sent to Boeing Co’s (BA) employees, the plane maker has appointed veteran engineer Ed Clark to head its 737 MAX jetliner program. Clark, who served as chief mechanic and engineer for the company’s cash cow narrowbody program, will head Boeing’s manufacturing hub at Renton, Washington. […]
Read moreMarch 12, 2021 11:39 pm
Last week, I shared how NASDAQ was sitting at support and primed for a rally. Nasdaq (ticker: NDX) finished the week 2% higher almost recovering all of the losses in March. NASDAQ price analysis Beginning February 16, 2021, NDX has been contained within this downward sloping price channel. Earlier this week, NDX popped above the […]
Read moreMarch 12, 2021 8:02 am
General Electric Co (GE) said earlier this week that it forecast full-year free cash flow of between $2.5 billion to $4.5 billion and full-year adjusted earnings within the range of $0.15 to $0.25 per share. GE actually reiterated the guidance it had provided in January. The company expects to generate higher cash flow in 2021 […]
Read more