Dec 15th, 2023 – Friday’s indices performances: Nasdaq closed at 14813.92 (+0.35%), S&P 500 at 4719.19 (-0.007%) and Dow Jones at 37305.16 (+0.15%).
Intel (46.16, +2.17%) unveiled its new computer chips on Thursday, including Gaudi3, a chip for Generative AI software. Intel will launch Gaudi3 next year and it will compete with NVIDIA’s and AMD’s chipset and Intel is hoping with this new product to gain an important market share in the Generative AI sector, that for now has been dominated by NVIDIA.
Colgate-Palmolive’s rating has been upgraded by Bank of America to buy from neutral, and its target price increased from $75 to $90. To motivate their choice, analysts said: “In our view, CL holds potential to grow above its long-term targets over the next 12 months, which should serve as a catalyst for the stock“. BofA has in fact revised its earnings per share estimates for the company for FY24 and FY25, increasing them from $3.38 and $3.66 to $3.48 and $3.76, respectively.
Costco Wholesale beat analysts’ expectations after publishing its quarter results after the market closed on Thursday and the board has also declared a special $15 dividend per share. Costco shares were climbing as the market opened up on Friday, reaching a +4% performance in the early stages.
Warren Buffet’s conglomerate Berkshire Hathaway has acquired another 10.5 mln shares of Occidental Petroleum, and has now 27% of the company shares. This investment was made after Occidental acquired in a $12 billion deal shale driller CrownRock, making Occidental the second-largest oil producer in the Texas Permian basin, behind only ExxonMobil, that became the largest oil producer after the $60 billion deal to acquire Pioneer Resources.
Author: Filippo Ferrero