Nashville Mayor John Cooper announced that Oracle would fund a $1.2 billion campus in his city.  According to the Mayor’s office, the campus will generate about $8.8 million annually in local sales and use taxes.

The computer technology company’s campus is expected to bring 2,500 jobs to the city by the end of 2027 and 8,500 by the end of 2031.The investment potentially includes $175 million in public infrastructure. 

The mayor revealed that Oracle will pay upfront all the infrastructure costs.

Oracle has requested a public hearing to seek approval of an economic impact plan with the Metro Industrial Development Board.

 

 

Booking Holdings  shares got a rating boost to buy from hold by Jefferies analysts, on optimism about pent-up demand.

Analyst Brent Thill also raised his share price target on the online travel booking  company's shares to $2,800 from $2,300.The analyst mentioned in a research note that there is increasing signs of pent-up demand and consumer interest in travel.

While Thill is wary of pandemic uncertainties and 85-90% of revenues coming from markets where lockdowns are still in place, he is optimistic that these headwinds  will get mitigated by 2H21 as the rest of the world catches up with the U.S. on vaccination levels and global travel springs back.

 

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automaker General Motors  is facing a probe from U.S. regulators into  complaints the air bags on thousands of GM vehicles may not inflate in a crash.

The Office of Defects Investigation has received 15 consumer complaints of alleged air-bag-system malfunctions.Nine of those complaints mention the illumination of an airbag-malfunction indicator during the crash.

According to the National Highway Traffic Safety Administration, the inquiry covers nearly 750,000 Cadillac, Chevrolet and GMC SUVs and pickup trucks from the 2020 and 2021 model years.

In December, GM recalled nearly 840,000 vehicles for suspension problems or due to the possibility of the front seat belts on the vehicles failing. 

Gilbert also raised his price target to $74 a share from $66. 

“We launched on U.S. major [pharmaceuticals] in October with an overall bullish view on the group, but we started with a hold rating on BMY pending greater visibility on key late-stage pipeline assets,” Gilbert wrote in a commentary.Since then, BMY has received regulatory approval for Abecma (ide-cel) and Breyanzi (liso-cel), and announced positive top-line Phase 3 results for deucravacitinib (TYK2 inhibitor) and relatlimab (LAG-3 inhibitor), Gilbert mentioned.

Gilbert cited pipeline progress coupled with results from detailed pipeline analysis as factors behind the rating boost.

Salesforce.com announced that it  is planning to reopen its San Francisco headquarters in May along with its offices in Palo Alto and Irvine, Calif.

The cloud company’s  tower in San Francisco has 61 floors and 1.4 million square feet of office space.In the first stage, which is limited to the U.S. and only in areas that have a company-assigned coronavirus risk rating that’s flat or decreasing, fully vaccinated employees can volunteer to join groups of up to 100 people who can work on certain floors; the company will require employees to take Covid tests twice a week.

Amazon  launched a new private-label food and snack brand, named Aplenty.

The brand is expected to offer hundreds of products, including mini cookies, pita chips, crackers, condiments, frozen foods, and baking needs.The products will be available to by online as well as in-store at Amazon Fresh.

Amazon told Winsight Grocery Business that Aplenty “is on a relentless pursuit of deliciousness.”  The company also mentioned that it made its products under the “highest standards with recipes rooted in quality ingredients to deliver great taste without artificial flavors, synthetic colors or high fructose corn syrup,” while adding that products are “rigorously taste-tested” and come with a money-back guarantee.

The device would would have other smart-home functions, including music player, gaming, video streaming and Apple’s Siri digital assistant.

Apple discontinued its HomePod smart speaker in March.Apple may be planning a new “high-end speaker with a touchscreen” to compete with Google Nest and Amazon Echo smart speakers, according to Bloomberg.

 

The auction led to  yield of 1.68% , compared to March 10 yield of 1.523%.

Investors bid $2.36 for every $1 on offer from the Treasury, auction data showed.Foreign buyers, the data took down just under 60% of the sale.

The breakeven rate between five-year Treasury bonds and five-year inflation protected securities was 2.48% this week, down from the 2008 high of 2.5% it touched last month.

Plug Power  got an equal-weight rating from Morgan Stanley analysts who resumed coverage of the company on Monday.

Analyst Stephen Byrd says that the hydrogen fuel cell producer’s stock price already reflects a substantial part of the expected rapid growth ahead of the company. Byrd mentioned the company’s product advantages, strong balance sheet, and strategic partnerships as factors that position the company well for the transition to a hydrogen economy.

Byrd has a $35 price target on Plug Power   shares, thereby implying multiples of 18 times 2023 enterprise value/sales and 0.6 times EV/sales growth. 

"Even after modeling in double-digit revenue growth through 2050 and significant margin expansion, our discounted cash flow analysis results in a modest 8% upside from current levels," Byrd said.

 

 

Diamond jewelry retail company Signet Jewelers boosted its revenue outlook for the first quarter to between $1.57 billion and $1.6 billion, from its prior estimate of $1.42 billion to $1.46 billion.

Signet said that it has experienced stronger than expected conversion and average ticket values in the first quarter.

For the full year, Signet expects to generate revenue between $6 billion and $6.14 billion, a higher range compared to its prior outlook of $5.85 billion to $6 billion.

According to Signet, its revenue is likely benefitting from combination of “traction from strategic initiatives as well as tailwinds from stimulus, tax refunds and consumer enthusiasm on the heels of vaccine rollouts".

Last month, Signet reported adjusted earnings of $4.15 per share, which exceeded the FactSet analyst consensus of $3.54 per share.Sales rose +1.5% year-over-year to $2.2 billion, ahead of the FactSet consensus of $2.1 billion. 

 

 

Online dating services company Match Group’s  shares got a rating boost from BTIG, citing valuation. Match is the owner of popular dating sites like Tinder, Match.com, and OkCupid.

BTIG analyst Jake Fuller raised his rating on Match to buy from neutral.He also sees upside to second-half 2021 and 2022-2025 numbers due to re-opening tailwinds, new products, the Hyperconnect acquisition and emerging brand/live streaming opportunities.

"The pandemic depressed Tinder ARPU [average revenue per user]," but a rebounding economy will help, the analyst added.

The analyst mentioned parallels between Apple's   "Think Differently" campaign and Tesla's power and storage goals.

"Consumers rave about the in-car software of Tesla and the ease of connectivity," Dorsheimer said."

According to Dorsheimer, as Tesla’s solar and energy storage products supply constraints are removed, “consumers will be able to become more entrenched in its electrification ecosystem.

Microsoft has agreed to acquire computer technology firm Nuance Communications  in a $20 billion all-cash deal.

Microsoft will pay $56 a share for Nuance, a 23% premium to its Friday closing price.It would be Microsoft's second-largest deal on record, after its $26 billion deal for Linkedin in 2016. 

"Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI," said CEO Satya Nadella.

DeBlase hiked her price target to $244 from $222 per share.

According to DeBlase, despite Honeywell's solid metrics and other factors, the stock has been the worst performer in the multi-industry, electrical equipment and machinery (MI/EE) group year-to-date, after only showing average performance in 2020.DeBlase  views this as a “rare opportunity” to upgrade rating on the stock, particularly as the bank now expects 5% and 10% upside to consensus EPS forecasts for 2021 and 2022, among the most attractive in the MI/EE group.

McDonald's is planning to shutter hundreds of its outlets in Walmart  stores by the end of the summer.

Walmart confirmed Friday that the fast-food restaurant chain will have around 150 locations after the closures. 

down from 500 at the start of the year and from an overall peak of about 1,000, The Wall Street Journal reported.

A former McDonald's executive told Dow Jones that stand-alone McDonald's locations with drive-throughs were far more profitable, even before the pandemic.

According to the executive, a third of the sales from Walmart-sited McDonald’s restaurants came from Walmart employees, while many patrons visited them only to load “up on refills and condiments, diluting margins.”

Walmart is now considering other restaurant options “that don't rely solely on store traffic,” others familiar with the situation told Dow Jones.

 

 Chaiken doubled his price target to $40 a share from $18.

In a note entitled "Prepare to Come About," Chaiken said that “while an exact return to cruise date is still in flux, it’s looking increasingly likely that a mid/late summer restart is reasonable."

According to Chaiken, demand and pricing continue to build for Carnival, and there is a good chance that volumes and price would be above pre-COVID levels in 2022.

Chaiken said that with $11.5 billion of liquidity, and the refund-to-new bookings ratio likely a positive cash inflow going ahead, “the conversation is changing away from 'survival' and more towards potential earnings catalysts.

Tesla's  March deliveries in China lead to a solid outlook  for the electric-car maker into the rest of 2021, according to Wedbush analyst Dan Ives.

On Friday, the China Passenger Car Association data showed that Tesla delivered 35,500 vehicles in March, about double the February level. 

Ives mentioned in a note,  "The narrative is [clear: Despite] the haters and bears focused on China EV sales softening in January, we have seen a storybook comeback from Tesla and domestic EV players NIO,  Li Auto,  Xpeng  and others in this key region".

Wedbush expects a run rate of 300,000 units delivered in China for the year.Tesla has a target of delivering 850,000 vehicles worldwide. 

"As this green tidal wave hits its next phase globally, ... the Tesla EV demand story is just starting to play out," Ives noted. 

Wedbush maintained its outperform rating and $1,000 price target on Tesla shares.

Electric vehicle giant Tesla has raised prices in the U.S. -  for the third time in the last month.

Model 3 Standard Range price has been hiked by  $500 ($37,990 to $38,490); Model 3 Long Range non-performance price increased $500 ($46,990 to $47,490), while Model 3 Performance price raised by $1,000 ($55,990 to $56,990).

Model Y Long Range non-performance price increased $500 ($49,990 to $50,490).

Prices on the Model 3 have increased by $500 - $2,000 and Model Y by $500 - $1,000 since the start of the year.

The company's price increases over the last month potentially reflects strong demand.It delivered almost 5,000 more vehicles than they produced in the first quarter.

 Tesla's vehicle inventory is at a nine days of supply, compared to the typical 60 to 80 days of supply that automakers’ inventories sit around.

Mining company Anglo American announced plans to spinoff its thermal coal operations in South Africa as it aims for a “responsible transition” away from the fossil fuel. The company said it will spin off its South African thermal coal operations to a new holding company, Thungela Resources Limited, conditional on shareholder approval on May 5. Thungela is a South African producer and exporter...