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Instablog9ja
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Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPCL), has lost his 25-year-old daughter, Fatima.
Details of her death were sketchy as of the time of filing this report, but NAN reported that the deceased named Fatima passed away on Friday.
Vice-President Kashim Shettima has condoled with the CEO over the tragic incident. Shettima, who prayed for the peaceful repose of the deceased, asked God to grant the family members the strength to bear the painful exit of their daughter, who was in her prime.
NAN reports that the Vice-President led other mourners at the funeral prayer, held at the Annur Mosque in Abuja.
Investopedia
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JPMorgan Chase (JPM) shares are rising in premarket trading after its results beat estimates; investors are watching wholesale inflation numbers following yesterday's CPI report; Tesla (TSLA) shares are sinking after unveiling its "Cybercab"; Warren Buffett's Berkshire Hathaway (BRK.A) reduces its stake in Bank of America (BAC) to below 10%; and shares of Advanced Micro Devices (AMD) are rebounding slightly after falling yesterday following an artificial intelligence (AI) event. Here's what investors need to know today.
Shares of JPMorgan Chase (JPM) are rising about 1.5% in premarket trading after the world's largest bank by market cap reported earnings per share (EPS) of $4.37 on revenue of $42.65 billion, above consensus estimates of analysts compiled by Visible Alpha of $3.97 and $40.85 billion, respectively. JPMorgan shares have gained more than 25% this year.
After yesterday’s Consumer Price Index (CPI) indicated that inflation isn't falling as fast as some economists expected, investors will be closely watching another data point with today's 8:30 a.m. ET release of the wholesale-focused Producer Price Index (PPI). Economists surveyed by and projected that prices at the wholesale level will have increased by 0.1% in September from the prior month, down from a 0.2% rise in August.
Tesla (TSLA) shares are dropping 6% in premarket trading after the electric vehicle maker unveiled several new products at an event yesterday, including its highly anticipated "Cybercab" robotaxi. Tesla also showed off a larger version of the autonomous vehicle called a "Robovan," as well as its Optimus humanoid robot. Tesla Chief Executive Officer (CEO) Elon Musk said that the Cybercab would cost about $30,000 and be in production by 2026.
Berkshire Hathaway (BRK.A) continues to reduce its stake in Bank of America (BAC). According to a Thursday filing with the Securities and Exchange Commission (SEC), Berkshire CEO Warren Buffett sold more than 9.5 million shares of the bank's stock. The move lowers Berkshire's stake in Bank of America to less than 10%, meaning it will face fewer reporting requirements from the SEC. Shares of Bank of America are up about 2% in premarket trading.
Shares of Advanced Micro Devices (AMD) are rebounding by about 1% in premarket trading after they fell about 4% in the prior session following an event to show off the chipmaker's next generation of artificial intelligence (AI) technology. At the event, AMD unveiled its fifth-generation EPYC server processor, as well as its Instinct MI300X series Graphics Processing Unit (GPU) chip and other technology. The lineup initially failed to excite investors who are eager to see the company take on Nvidia (NVDA).
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Instablog9ja
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An influencer has written about the current realities faced by some Nigerian parents and their children.
He said 500 Naira is now the minimum parents give their children to go to school with daily if the school is close by. If it’s far, 1000 Naira. If the child doesn’t eat before leaving home in the morning, 1500, he used to collect 70 Naira to run the entire day.
What You Need To Know Ahead Of Johnson & Johnson's Earnings
Johnson & Johnson (JNJ) Reports...
Investopedia
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Johnson & Johnson (JNJ) reports earnings Tuesday morning for the third quarter, with analysts expecting the company's revenue and profit to rise year-on-year.
Analysts see Johnson & Johnson reporting $22.2 billion in revenue, nearly 4% above last year's $21.4 billion in the same quarter, according to estimates compiled by Visible Alpha. Net income is expected to rise slightly to $4.4 billion, compared with $4.3 billion last year.
In the third quarter of 2023, Johnson & Johnson also posted a $21 billion one-time gain for discontinuing operations, as it completed the spinoff of its consumer products division, including products like Tylenol and Band-Aids, into its own public company called Kenvue (KVUE).
The company has shifted its full-year outlook in each of its first two quarters, and recently said it expects to do so again. In the first quarter, the company narrowed its full-year sales and profit estimates, and in the second quarter lifted its sales estimates while lowering profit projections to account for recent acquisitions.
On Wednesday, the pharmaceutical and medical device company said it will provide a new update after announcing this week the closing of its acquisition of V-Wave, which develops a number of treatments for heart failure. It announced the deal, valued at up to $1.7 billion, in August.
The V-Wave acquisition is one of several the company has announced this year, as it has spent billions to expand its portfolio of drugs across a number of segments like cancer treatment and cardiovascular health.
Johnson & Johnson currently has about 100 drugs in its development pipeline, from varying stages of clinical trials up to those having been submitted to the Food and Drug Administration (FDA) or international regulators.
Johnson & Johnson stock was little changed Thursday at $160.51. The shares are a bit more than 2% higher than they were to start the year.
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Instablog9ja
2 hrs
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TV Host, Frank Edoho, has floored a follower on X
A follower has applauded Frank Edoho for his acting skills while presenting Who Want to be A Millionaire and asked if Nollywood directors have not noticed him or he’s the one not interested in acting.
Frank responded by saying he doesn’t want to be an actor, but prefer to be a producer, director or colorist which he has being doing.
Another follower interrupted the conversation by saying his choice of becoming an actor is as a result of the bad economy and that he moved from a presenter to an actor. But Frank replied that the way he talked shows he is a d¥mmie.
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Tesla (TSLA) unveiled its highly anticipated "Cybercab" robotaxi, "Robovan," and more at the electric vehicle maker's “We, Robot” event Thursday.
CEO Elon Musk, who rolled into the event at Warner Bros. Studios in Burbank, California in a Cybercab to demonstrate its fully autonomous capabilities, said the vehicle comes without a steering wheel or pedals, and can be charged wirelessly.
Musk said the Cybercab will enable “individualized mass transit,” and could help bring down transit costs, among other benefits. It will become available for purchase for under $30,000, he said, describing a future in which owners could manage fleets of the vehicles.
Tesla also revealed a larger robotaxi called a Robovan, that can seat up to 20 passengers at a time, or be used to transport goods.
Musk said he expects Tesla’s fully autonomous driving capabilities will come to Texas and California by next year with the Model 3 and Model Y, with the Cybercab in production by 2026.
Musk suggested that autonomous driving supported by artificial intelligence could also make driving 10-20 times safer, and invited attendees at the event to take rides in the Cybercab and Robovan.
Musk showcased Tesla’s Optimus humanoid robot as well, with some helping serve drinks, dance, and perform other functions at the event.
Musk said he believes the humanoid robot, which will become available for between $20,000 and $30,000, could become “the biggest product ever, of any kind.”
While a release date was not offered, the CEO has previously said Optimus already performs some "simple factory tasks" in Tesla's labs, could be expected to be in Tesla's factory by the end of 2024, and may be ready for external sale by the end of 2025.
Tesla shares were little changed in extended trading following the announcements. While Tesla shares have mostly recovered from a steep selloff in the first half of the year, they remained about 4% lower for 2024.
For years, Musk has been saying a fully autonomous Tesla vehicle could be coming soon, and the announcements come after the event was delayed from its original date in August, adding more pressure on Tesla to impress with fresh developments worth the wait.
Tesla could provide more details about its plans along with its third-quarter financial results after the closing bell on Oct. 23.
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