Barclays Surges with Cost Reductions and Billion-Dollar Shareholder Returns, Capital One Eyes Discover Acquisition, and More
20 Fevereiro 2024 - 7:35AM
IH Market News
Barclays Plc (NYSE:BCS) – Barclays’ shares
jumped after announcing a major cost-cutting campaign and returning
£10 billion to shareholders. The bank will reorganize operations
and review management positions. Plans include expansion and cost
reduction to increase profitability and return on equity. Shares
are up 7% in Tuesday’s pre-market.
Capital One (NYSE:COF) – Warren Buffett-backed
Capital One plans to acquire Discover Financial
Services (NYSE:DFS) in a $35.3 billion stock transaction,
aiming to create a global payments giant. The deal will face
antitrust scrutiny, promising $2.7 billion in synergies by
2027.
Santander (NYSE:SAN) – Santander announced a
$1.57 billion share buyback program and a 50% increase in dividend
per share for 2023. The bank will commence the buyback after
obtaining regulatory approval, with the average purchase price of
shares not exceeding €4.76. The final dividend will be €0.095 per
share, totaling €0.176 per share for 2023. After a record profit in
2023, CEO Ana Botín expects a return on tangible equity of 16% in
2024. Botín saw her remuneration for 2023 increase by 4.3% to €12.2
million, reflecting the highest profit ever recorded.
Goldman Sachs (NYSE:GS) – Goldman Sachs,
Macquarie, and hedge funds are positioning to profit from the
booming uranium sector. While many banks avoid it, Goldman and
Macquarie (ASX:MQG) are boosting physical uranium and options
trading, attracting interest due to rising prices and the nuclear
energy resurgence.
HSBC Holdings (NYSE:HSBC) – Russian President
Vladimir Putin greenlit HSBC’s sale of its Russian unit to
Expobank, after months of negotiations. The deal marks HSBC’s exit
from the Russian market, following Moscow’s increasing restrictions
on foreign asset sales, requiring presidential approval.
BlackRock (NYSE:BLK) – Vestas Wind Systems A/S
sold its 12.5% stake in Africa’s largest wind farm, Lake Turkana
Wind Power, to a fund managed by BlackRock Inc. The deal’s value
was not disclosed, part of BlackRock’s larger plan to acquire
31.25% of the 310-megawatt facility.
Microsoft (NASDAQ:MSFT) plans to expand its
artificial intelligence and cloud infrastructure in Spain with a
$2.1 billion investment over two years. This initiative follows a
similar €3.2 billion investment in Germany, demonstrating a
long-term commitment to the country.
Apple (NASDAQ:AAPL) – The Financial Times
reported on Sunday that the European Union plans to fine Apple
approximately €500 million for alleged competition law violations.
The European Commission has accused Apple of distorting competition
in the music streaming market through the App Store rules.
Embraer (NYSE:ERJ) – Embraer downplays the
impacts of Pratt & Whitney engine issues, highlighting a close
relationship. Commercial Director Martyn Holmes praised Pratt &
Whitney’s efforts to resolve issues, expressing confidence in
problem resolution.
JetBlue Airways (NASDAQ:JBLU) – JetBlue
Airways’ shares rose 2.5% in Tuesday’s pre-market after activist
investor Carl Icahn secured two seats on the airline’s board. Last
week, Icahn revealed he had acquired a nearly 10% stake in
JetBlue.
Stellantis (NYSE:STLA) – Stellantis plans to
manufacture up to 150,000 low-cost electric vehicles in Italy, in
partnership with Chinese Leapmotor, in Mirafiori, Turin. Production
could start in 2026 or 2027, helping to meet the one million
vehicle target by 2030.
Toyota (NYSE:TM) – Japan’s Ministry of
Transport is preparing to act against Toyota Motor Corp, its
affiliate, for manipulation in engine emission tests. Toyota
Industries may also face sanctions, including possible
certification loss for certain engines.
Xpeng (NYSE:XPEV) – Chinese electric vehicle
manufacturer Xpeng plans to hire 4,000 employees this year and
invest millions in artificial intelligence to compete in the
Chinese automotive market. While many rivals cut costs, Xpeng aims
to launch 30 new products and expand its workforce by 25%.
InterContinental Hotels Group (NYSE:IHG) – IHG,
the parent company of Holiday Inn, exceeded room revenue
expectations and plans to return over $1 billion to shareholders in
2024. CEO Elie Maalouf outlined a strategy for revenue growth and
global hotel portfolio expansion, prioritizing key markets like the
USA and China.
Sony (NYSE:SONY) – India’s Zee Entertainment
attempts to restart negotiations with Japan’s Sony Group to revive
the $10 billion merger deal, canceled in January. Although efforts
to relaunch the merger continue, significant differences remain.
Zee must confirm acceptance of terms within 24-48 hours, otherwise,
Sony may withdraw the merger request this week.
BHP Group (NYSE:BHP) – BHP Group exceeded
analyst expectations with a first-half underlying profit, driven by
iron ore prices, and expressed cautious optimism for global demand.
In the first half, BHP Group’s underlying profit reached $6.60
billion, surpassing analyst expectations. The interim dividend of
$0.72 per share also exceeded forecasts. The depreciation expense
for the nickel business was $2.5 billion, with rebalancing plans by
the end of the decade.
Walmart (NYSE:WMT) – Walmart has recorded
impressive profits for the past six quarters, exceeding Wall Street
expectations. Analysts anticipate solid fourth-quarter fiscal
results, driven by holiday performance and value-seeking amid
inflation. Investors are keen on the company’s guidance for 2024
and inflation management. Following the report, buying
opportunities may arise, considering the stock’s history of
rebounding after temporary dips. Analysts expect Walmart to report
adjusted fourth-quarter earnings of $1.64 per share, with sales
projected to increase by 4%, to $170.9 billion.
Home Depot (NYSE:HD) – Wall Street analysts
expect the home improvement retailer to experience a 3% revenue
decline in the fourth quarter, totaling $34.6 billion. Similarly,
the fiscal year’s annual revenue is expected to fall
proportionally, representing Home Depot’s first annual sales drop
since 2009.
JD.com (NASDAQ:JD) – JD.com and Elliott
Advisors seek to acquire retailer Currys. Elliott’s initial $880
million offer was rejected by Currys. JD.com considers a cash offer
to acquire the entire share capital of the British company. Facing
Chinese regulation and demand slowdown, JD.com seeks
diversification with Currys offer in the UK. Despite UK’s economic
challenges, the low stock valuation may be attractive to
JD.com.
Walmart (NYSE:WMT)
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