An unprecedented IT outage on Friday caused major disruptions in global operations, affecting several airlines and resulting in halted flights, delays, and service disruptions. The outage was linked to a technical update by cybersecurity giant CrowdStrike, leaving organizations like Microsoft scrambling to restore apps and services. Flight update monitors at airports around the world displayed
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Phoenix is returning to the municipal market after 12 years with a new money general obligation bond issue. The city’s chief financial officer, Kathleen Gitkin, has expressed high expectations for the $238.8 million tax-exempt and taxable deal, which is scheduled to price through a Piper Sandler-led team of underwriters. According to Gitkin, there is a
As the second-quarter earnings season kicks off, Mark Mahaney from Evercore ISI has provided an update on his tactical calls for the large-cap internet sector. His optimistic outlook for the sector is based on sustainable valuations and favorable market conditions for the remainder of the year. Analysis of Top Picks Mahaney’s top picks include Alphabet,
The landscape of the senior housing industry is poised for significant growth as the American population continues to age. Bank of America analysts have highlighted the potential for senior housing stocks to thrive in the coming years. Among these promising names is Ventas, a real estate investment trust that offers investors a dividend yield of
The North Carolina Local Government Commission recently rejected Cabarrus County’s requests for bonds totaling $228 million, even though the panel’s staff had recommended approval. Some members of the board expressed concerns about the county’s use of bond anticipation notes and suggested that the bonds should be subject to a voter referendum before the commission considers
Smith & Nephew, a British medical technology company, has made a name for itself in the global market by developing, manufacturing, and selling a wide range of medical devices and services. With segments like Orthopedics, Sports Medicine, and Ear, Nose and Throat, as well as Advanced Wound Management, the company has established itself as a
Dora, the revolutionary unified search and action engine for the multichain world, recently announced the successful close of a $5.5 million early stage funding round. The funding round was co-led by Dragonfly Capital and Lemniscap, with participation from Robot Ventures, Ethereal Ventures, Maven11, and Arche Capital, alongside notable angel investors such as Rushi Manche and
Goldman Sachs remains bullish on shares of Alphabet and Meta, reiterating their buy rating. The firm has raised their price target on GOOGL to $211 and on META to $522, citing increased estimates and valuation multiples as the driving factors behind their decision. Stifel Initiates RH as Buy Stifel has initiated coverage on the furniture
The surge in demand for air travel during the summer months has not translated to record profits for U.S. airlines. Despite projecting record demand and potential revenue growth, airlines are facing a disconnect when it comes to their bottom lines. The increased costs associated with labor and other operational expenses have significantly impacted the profitability
Artificial Intelligence (AI) has been a hot topic in the stock market, with leading AI chipmaker Nvidia soaring by nearly 155% this year. While semiconductor stocks and technology giants like Amazon have reaped the benefits of the AI trend, RBC Capital Markets is highlighting some alternative ways to play the theme. RBC Capital Markets views