FuboTV (NYSE:FUBO), Walt
Disney (NYSE:DIS), Fox Corporation
(NASDAQ:FOX) – A U.S. judge temporarily blocked the launch of Venu
Sports, a new sports streaming service backed by Disney, Fox, and
Warner Bros Discovery. The decision came after FuboTV alleged
antitrust practices by the media giants that could harm competition
and inflate prices for consumers. Fubo’s shares jumped 12.4% in
pre-market trading.
Goldman Sachs (NYSE:GS) – Goldman Sachs reduced
the likelihood of a U.S. recession from 25% to 20% after recent
data showed a decline in unemployment claims and an increase in
retail sales. The reduction reflects the absence of clear recession
signals, with expectations of a potential interest rate cut by the
Federal Reserve in September.
BHP Group (NYSE:BHP) – The union at BHP’s
Escondida mine in Chile ended a strike after agreeing to a
three-year contract with BHP. The agreement includes improved
working conditions and bonuses of up to $32,000 per worker. The
strike, which threatened global copper supply, was suspended after
successful negotiations. Shares rose 0.9% in pre-market
trading.
Apple (NASDAQ:AAPL), Qualcomm
(NASDAQ:QCOM) – Apple’s decision to develop its own modem chips
instead of using Qualcomm’s may not yield immediate benefits but
sets the stage for future innovations, according to Bloomberg.
Additionally, Apple is advancing with a desk robot, opening its NFC
payment chip to third parties, and facing AI challenges compared to
Google. Apple’s shares fell 0.1% in pre-market trading, while
Qualcomm’s shares fell 0.9%.
Texas Instruments (NASDAQ:TXN) – Texas
Instruments will receive up to $1.6 billion from the U.S.
Department of Commerce to build two factories in Texas and one in
Utah. The funding, part of the CHIPS Act, aims to increase domestic
semiconductor production and create 2,000 jobs, strengthening
national chip capacity.
Foxconn (USOTC:FXCOF) – Foxconn Chairman Young
Liu defended the company’s hiring practices after allegations of
discrimination against married women. Liu stated that Foxconn
employs women regardless of marital status, and they are a
significant part of the workforce. The company is under
investigation in New Delhi.
Nokia (NYSE:NOK), TIM SA – Nokia will supply
equipment to expand TIM Brasil’s 5G network in 15 states starting
in January 2025. The deal aims to offer fast and secure
connectivity, helping businesses digitize operations and boost
economic growth. Financial details were not disclosed. Nokia’s
shares rose 1.0% in pre-market trading.
Ericsson AB (NASDAQ:ERIC) – Ericsson will sell
its U.S. call routing unit, Iconectiv, for $1 billion to Koch
Equity Development. The transaction, expected in the first half of
2025, will result in a one-time gain of approximately $870 million
for Ericsson. The sale is part of Ericsson’s efforts to cut costs
and improve margins in a challenging market. Shares fell 0.1% in
pre-market trading.
Warner Bros Discovery (NASDAQ:WBD) – S&P
downgraded Warner Bros Discovery’s outlook to “negative” due to
declining cable TV business and potential losses of NBA broadcast
rights. The company faces challenges with consumer migration to
streaming and needs to address high debt and asset reductions.
Shares fell 0.1% in pre-market trading.
Paramount Global (NASDAQ:PARA) – Edgar Bronfman
Jr. is preparing an offer for National Amusements, the controlling
shareholder of Paramount Global. This follows Paramount’s agreement
to merge with Skydance Media. If Paramount finds another acceptable
buyer by August 21, the merger plan could change. National
Amusements controls major media companies, including Paramount.
Shares fell 0.5% in pre-market trading.
Amazon.com (NASDAQ:AMZN) – Amazon is facing
challenges with its Prime Air drone service in College Station,
Texas, due to constant noise and low flight altitude. According to
CNBC, local residents and officials are concerned about the impact
of these drones on the environment, prompting Amazon to consider
reducing the number of flights or relocating its operations to a
less residential area. The company is also developing a new drone
model, the MK30, designed to be quieter. Additionally, Amazon
warned Flex drivers that payments from last Thursday could be
delayed due to a “technical issue,” according to Reuters. The
company did not provide details about the cause or the new payment
date, causing concern among drivers who usually receive payments
quickly after deliveries. Shares are stable in pre-market
trading.
Meta Platforms (NASDAQ:META) – TikTok claims
that a bill that could ban it from the U.S. violates First
Amendment protections, comparing itself to foreign-owned media
companies. The Department of Justice disputes this, arguing that
the protection does not apply to a foreign app. If TikTok is
banned, Meta, which is already trying to attract content creators
to Instagram Reels, could benefit from the increase in users.
Shares fell 0.4% in pre-market trading.
CrowdStrike (NASDAQ:CRWD), Palo Alto
Networks (NASDAQ:PANW) – The impact of CrowdStrike’s
crisis could affect the cybersecurity sector. Investors are
watching Palo Alto Networks’ financial results closely,
particularly to see if it can attract clients negatively impacted
by CrowdStrike’s failure. Palo Alto is expected to report modest
growth as analysts monitor its platform strategy and customer
response. CrowdStrike’s shares fell 0.4% in pre-market trading,
while Palo Alto’s shares fell 0.2%.
Trump Media & Technology Group (NASDAQ:DJT)
– Trump Media & Technology Group, the parent company of Truth
Social, has faced a continued decline in its stock, with losses of
12.6% over seven days, marking the longest streak of weekly losses
since its merger with Digital World Acquisition in March. Political
uncertainty and poor financial performance are putting pressure on
the stock. Shares rose 0.4% in pre-market trading.
Nike (NYSE:NKE) – After a weak sales forecast
in June, Nike’s shares rose 11.5% last week, outperforming the
S&P 500. The increase was driven by strong results from other
companies and a new $229 million position from Pershing Square. The
rise also reflected a shift in the executive team, with Nike still
23% below its year-start level. Shares are stable in pre-market
trading.
Starbucks (NASDAQ:SBUX) – Balmuccino, a
developer of coffee-flavored lip balms, has sued Starbucks for the
third time, claiming that the coffee chain copied its concept for
coffee-flavored lipstick and gloss. The Los Angeles-based company
alleges it presented prototypes to Starbucks in 2018 and accuses
the chain of launching similar products in 2019 without
compensation. The current lawsuit was filed after a previous one
was dismissed on procedural grounds. Shares fell 0.3% in pre-market
trading.
Diageo (NYSE:DEO) – Diageo is under
investigation in India for billing and discounting practices
related to the sale of alcoholic beverages to municipal agencies.
The Delhi Anti-Corruption Police has requested financial documents
and summoned Hina Nagarajan, CEO of the Indian unit, to testify.
The company has provided the requested documents and is cooperating
with the investigation.
Kroger (NYSE:KR) – Kroger is considering
issuing new bonds and a debt exchange offer from Albertsons while
facing antitrust challenges to its $24.6 billion merger. The
company has initiated investor calls with Citigroup and Wells Fargo
to explore this possibility. The deal’s completion remains
uncertain due to ongoing legal proceedings.
Tempur Sealy International (NYSE:TPX) – Tempur
Sealy International is seeking to acquire Mattress Firm for $4
billion to “eliminate future competition,” according to revealed
documents. The proposal, which aims to integrate more than 2,300
Mattress Firm stores, faces resistance from the FTC due to concerns
about competition, prices, and jobs.
Boeing (NYSE:BA), Lockheed
Martin (NYSE:LMT) – Boeing and Lockheed Martin are
negotiating the sale of their space launch joint venture, United
Launch Alliance (ULA), to Sierra Space. Valued between $2 billion
and $3 billion, the sale would represent a significant shift in the
U.S. space industry, separating ULA from large defense contractors
to a smaller, private company. Sierra Space could use ULA to
advance its own space projects. After years of monopoly, United
Launch Alliance (ULA) faces growing competition from SpaceX and
Blue Origin. ULA is experiencing financial and operational
difficulties, with delays and the loss of engineers to competitors.
The company needs to accelerate production and launches to maintain
its relevance in the space sector while dealing with internal and
external challenges. Boeing’s shares rose 0.2% in pre-market
trading, while Lockheed’s shares fell 0.4%.
Tesla (NASDAQ:TSLA) – X, Elon Musk’s media
platform and also the CEO of Tesla, announced the immediate
suspension of its operations in Brazil. The decision was prompted
by censorship orders from Judge Alexandre de Moraes, who, according
to the company, threatened to imprison a representative if the
platform did not remove certain content. The Supreme Federal Court
(STF) did not confirm the authenticity of the orders. Tesla’s
shares fell 1.3% in pre-market trading.
Ford Motor (NYSE:F) – Ford is recalling 85,000
Explorer SUVs with the Police Interceptor package due to engine
fire risks, according to the National Highway Traffic Safety
Administration. If the engine fails, oil and fuel could leak and
accumulate near ignition sources, potentially causing fires. The
recall affects 2020-2022 models with hybrid and gasoline engines.
Shares fell 0.1% in pre-market trading.
Rivian Automotive (NASDAQ:RIVN),
Amazon (NASDAQ:AMZN) – Rivian temporarily halted
production of its delivery vans for Amazon due to a parts shortage.
The company is facing ongoing supply chain challenges but expects
to recover lost production. Other models were not affected.
Rivian’s shares fell 0.1% in pre-market trading.
Zeekr (NYSE:ZK) – The Chinese electric vehicle
manufacturer revealed a battery that charges from 10% to 80% in
less than 11 minutes with an 800-volt architecture. This innovation
could accelerate the adoption of electric vehicles, addressing
concerns about recharge time and costs, and improving
competitiveness against rivals like Tesla. Shares rose 0.7% in
pre-market trading.
Canadian National Railway (NYSE:CNI),
Canadian Pacific Kansas City (TSX:CP) – Major
Canadian railways, Canadian National Railway and Canadian Pacific
Kansas City, face the risk of simultaneous strikes due to failed
labor negotiations. Both companies have expired labor agreements,
and the truckers’ union may call a strike, or the government may
intervene with arbitration or back-to-work legislation.
JPMorgan Chase (NYSE:JPM) – Investors like
JPMorgan and M&G are increasing their holdings in emerging
market bonds after a drop in riskier assets. They believe that
bonds from developing countries like Ukraine and Ecuador could
offer significant returns. Despite some fears of a potential U.S.
recession, many are betting on high yields due to possible
continued Federal Reserve easing.
UBS Group AG (NYSE:UBS) – UBS Asset Management
will sell its Quantitative Investment Strategies (QIS) segment to
Manteio Partners. The QIS team, managing about $1.5 billion in
funds, will be transferred and operate independently under Manteio.
The transaction is expected to close in the fourth quarter. Shares
fell 0.1% in pre-market trading.
Deutsche Bank (NYSE:DB) – Deutsche Bank offered
a settlement to shareholders who sued the bank for underpaying in
the acquisition of Postbank, but the offer was deemed too low by
the plaintiffs. The shareholders’ attorney called the proposal
“inadequate” and said it falls far short of the total claims.
Shares rose 0.3% in pre-market trading.
Jefferies Financial Group (NYSE:JEF),
Rubicon Technologies (NYSE:RBT) – Jefferies
Financial Group sued Rubicon Technologies, claiming it received
restricted stock worth only $40,000 instead of the promised $7
million. Rubicon allegedly failed to meet the payment agreement in
cash or tradable shares. Rubicon’s shares plummeted following the
merger.
EQT AB (NYSE:EQT), PropertyGuru Group
Ltd. (NYSE:PGRU) – EQT agreed to acquire PropertyGuru for
$1.1 billion in an all-cash deal, valuing each share at $6.70, a
52% premium over the previous price. The transaction, expected to
close by early 2025, will make PropertyGuru a private company.
Moody’s Ratings (NYSE:MCO), Morgan
Stanley (NYSE:MS), Wells Fargo (NYSE:WFC)
– Moody’s warned that investigations into money-sweeping programs
could negatively impact the credit ratings of large wealth managers
like Morgan Stanley and Wells Fargo. This impact could increase
costs and reduce profit margins, especially for companies with less
diversified business models. Moody’s shares fell 0.1% in pre-market
trading.
Mastercard (NYSE:MA) – Mastercard is reducing
its global workforce by 3%, affecting about 1,000 people, to better
focus on core activities. The restructuring will include a one-time
charge of $190 million and the reallocation of resources to
expansion and growth areas such as cybersecurity and
anti-fraud.
Warner Brothers Discovery (NASDAQ:WBD)
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