🍗 Google vs Nvidia in the A.I Race, Who's Winning?
Morning Tendies
April 06, 2023
Good Morning!
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Okay, enough of that boring stuff. Let’s get into it:
FedEx $4 Billion in Cost Cuts, BlackRock hired by the U.S. Government to help facilitate the sale of $114 Billion in Securities, Google’s A.I Supercomputer is better than Nvidias?
Let’s dive in!!!
📈 Markets
✉️ FedEx (FDX) announces $4B cost cutting plan. FedEx will merge the majority of its ground, air, and other operations. FedEx Express, Ground, Services, and other FedEx operating companies will join into a single entity by June 2024 in a companywide reorganization.
FedEx Freight will continue to operate as a stand-alone company within FedEx.
FedEx also announced that its dividends will be boosted by 10%, to 44 cents per share.
(Also back in September, FedEx announced it was addressing rising expenses, which included the closure of 5 corporate offices and 90 office locations)
💵 BlackRock (BLK) hired by the U.S. Government to sell $114B in securities. BlackRock has been hired as an adviser by the U.S. Government to help facilitate the sale of $114 Billion in securities that were held by failed banks, Signature Bank and Silicon Valley Bank
🤖 Google (GOOGL) claims its newest A.I supercomputer, beats Nvidia (NVDA). Google has claimed, when comparing similar systems, its systems are 1.2-1.7x faster & 1.3-1.9x less power than Nvidia A100
What Else Is Happening?
Private sector job growth tumbles in March to 145,000, worse than expected: ADP - FB
SeaDrill (SDRL) rises as it closes Aquadrill deal and discloses Elliott Management stake - MW
Goldman Sachs (GS) fined $3M by FINRA over mismarking short sale orders - RT
Amazon (AMZN) shutting down its global online bookseller - FB
Cash App founder dead: Bob Lee dies after San Francisco stabbing - BBC
Western Alliance Bancorp (WAL) deposits fall 11% on U.S. banking crisis fallout - RT
Amazon (AMZN), Microsoft (MSFT) cloud services could face U.K. antitrust probe - MW
Palantir (PLTR) and Microsoft (MSFT) expand cloud partnership to public sector - PR
Costco (COST) stock falls after first monthly same-store sales drop in nearly 3 years - MW
AbbVie (ABBV) lowers guidance range after potential $150 million charge - MW
Lumentum (LITE) stock sinks nearly 10% after forecast revision - MW
Bed Bath & Beyond (BBBY) enters into $120M merchandise agreement in bid to stave off bankruptcy - FB
🏛 Economic Events Today (EST)
8:30 AM - Jobless Claims
10:00 AM - Fed President Bullard speaks
🍗 Tendie Time
*A Roundup of Stuff We Find Interesting, Informative, or Just Plain Funny*
Quote of the Day:
“Enjoy the journey and try to get better every day. And don’t lose the passion and the love for what you do”
😂 Meme Refresher
That pretty much wraps it up for today!!
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research