Apple (NASDAQ:AAPL) – Smartphone shipments from Apple in China fell 19% in the first quarter due to competition from Huawei. Its market share decreased to 15.7%, nearly matching that of Huawei, which saw a 70% increase in sales. Apple now ranks third, behind Vivo and Honor. Additionally, FIFA is close to a deal with Apple for the television rights to a new club tournament. The contract, estimated at about one billion dollars, could strengthen Apple’s streaming service and mark the first time FIFA has closed a single global contract.

Nvidia (NASDAQ:NVDA) – Recently, Chinese universities and research institutes acquired artificial intelligence chips from Nvidia through resellers, despite the U.S. ban. Although the U.S. has expanded sales restrictions to China, the transactions reveal continued access to advanced technology, potentially applicable in military research. Additionally, FPT, Vietnam’s leading technology company, plans to build a $200 million artificial intelligence (AI) factory using Nvidia’s graphics chips and software. The goal is to boost AI research in Vietnam and develop solutions for generative AI and autonomous driving.

Microsoft (NASDAQ:MSFT) – Microsoft announced a cost-effective small language artificial intelligence model, capable of creating content and social media posts with less data. Microsoft’s Phi-3-mini surpasses larger models in language, coding, and mathematics benchmarks, making it easier for companies with limited resources to use.

Meta Platforms (NASDAQ:META) – Meta is sharing its headset operating system, Meta Horizon OS, with rival manufacturers, including Microsoft, for the first time. This allows partners to build headsets tailored for various activities. The strategy reflects Mark Zuckerberg’s ambition to dominate virtual and mixed reality.

Alphabet (NASDAQ:GOOGL) – Amid rising profitability expectations, Alphabet considers following Meta Platforms in initiating dividend payments. While tech stocks traditionally avoided dividends, the trend is changing, reflecting maturity and investors’ pursuit of capital return. With increased revenue and cost optimization, Alphabet is well-positioned for this transition, though it faces demands for AI spending.

Snap Inc (NYSE:SNAP) – Snap expanded its political coverage in partnership with Vote.org, allowing Snapchat users to register to vote, receive electoral reminders, and access political content from NBC News. Meanwhile, rival Meta downplays political content on its platforms.

Adobe (NASDAQ:ADBE) – Adobe revealed plans to integrate a comprehensive artificial intelligence image generation tool into its Photoshop software later this year. As it faces competition, Adobe is developing its system called Firefly, trained on authorized data to avoid copyright violations. The new tool will allow users to request image generation based on a provided reference, streamlining the creative process. A test version will be available to some users on Tuesday.

Broadcom (NASDAQ:AVGO) – Critics rejected Broadcom’s changes to its cloud licensing practices, claiming they do not address concerns about price increases and unfair licensing terms. Despite Broadcom’s announced price reductions, trade groups have called for an EU antitrust investigation into the alleged issues.

ASML (NASDAQ:ASML) – ASML Holding NV considers expanding its presence in the Netherlands after the government committed to spending on infrastructure and education. The company signed a letter of intent with the Eindhoven region, subject to resolving issues such as infrastructure and housing.

Amazon (NASDAQ:AMZN) – Amazon launched a grocery delivery subscription service: $9.99/month for Prime members and $4.99/month for EBT customers, covering deliveries from Whole Foods. It includes one-hour delivery windows, 30-minute pickup, priority access to recurring reservations, and free delivery on orders over $35 from local supermarkets. The service is expanding to over 3,500 cities in the U.S.

Walt Disney (NYSE:DIS) – Aaron LaBerge, CTO of Disney Entertainment and ESPN, will leave to join Penn Entertainment (NASDAQ:PENN) after over 20 years at Walt Disney. He will take a similar position on July 1st, citing family needs. ESPN and Penn collaborate on sports betting under the ESPN BET brand. Chris Lawson, VP at Disney, will serve as interim CTO.

Tesla (NASDAQ:TSLA) – Tesla’s shares rose 0.6% in pre-market trading on Tuesday, ahead of the first quarter report to be released after the market closes. Tesla expects to report its lowest gross margin in over six years, following a turbulent week with layoffs, price cuts, and calls for clarity in product strategy. Elon Musk will face questions about the Model 2 and the shift to a fully autonomous robo-taxi, while investors anticipate growth in sales. Revenue for the quarter is expected to fall, reflecting market challenges.

Boeing (NYSE:BA) – Boeing said it expects a slower increase in production and delivery of its 787 jets due to supplier shortages in key parts. The production rate, currently at five per month, may be affected. The company is focused on ensuring quality and safety amid supply chain challenges.

American International Group (NYSE:AIG) – David McElroy, president of AIG’s general insurance unit, will retire on May 1st after taking the role in January this year. He advanced his departure for personal reasons, remaining available to the company. McElroy joined AIG in 2018 and was CEO of the unit from August 2020 to December 2023.

Archer-Daniels-Midland (NYSE:ADM) – CFO Vikram Luthar of Archer-Daniels-Midland will leave his post on September 30th. He was placed on administrative leave in January due to accounting issues. Luthar will receive cash and stock awards and remain in a non-executive role until his resignation.

JPMorgan Chase (NYSE:JPM) – Lu Fang was named president of JPMorgan’s investment banking arm in China, succeeding Park Pu. Greg Yu was promoted to general manager. Both appointments took effect immediately, subject to regulatory registrations.

UBS (NYSE:UBS) – The Norwegian sovereign wealth fund, the second largest shareholder of UBS, supported the bank’s plans to make its additional tier 1 (AT1) obligations more attractive to investors, while endorsing the CEO Sergio Ermotti’s remuneration package. The move aims to strengthen UBS’s capital buffers to meet Swiss regulatory requirements. The fund’s approval, five days before the annual general meeting, boosts UBS’s efforts to strengthen its market position. In other news, UBS is delaying the construction of its own mutual fund business in mainland China, opting for existing joint ventures after acquiring Credit Suisse. The company considers the high costs and poor profit prospects as obstacles. Additionally, UBS plans to open an office in Menlo Park, CA, expanding its advisory services to technology companies. The bank hired Sean Lynch, specialized in companies like Uber and Tesla, to lead the initiative.

Citigroup (NYSE:C) – Citigroup faces allegations of a sexual harassment and gender discrimination culture, with managing director Ardith Lindsey accusing the bank of failing to protect her from threats and abuse by a supervisor. Additional details added to the lawsuit describe a toxic environment of negligent conduct and harassment.

Blackstone (NYSE:BX) – Blackstone-owned Crown Resorts was deemed suitable to maintain its Sydney casino license after extensive remediation, according to the New South Wales gambling regulator. The company implemented significant reforms in its operations, investing $129.28 million in comprehensive transformations.

Bristol Myers Squibb (NYSE:BMY) – Bristol Myers closed a $380 million contract with Cellares to produce CAR-T cell therapies in the U.S., EU, and Japan, expanding its production capacity to meet growing demand. The company plans to launch Abecma and Breyanzi in new countries this year.

UnitedHealth Group (NYSE:UNH) – UnitedHealth Group revealed on Monday that hackers accessed personal and health data of potentially a “substantial proportion” of Americans in February. The attack affected its Change Healthcare unit, which processes about half of the medical insurance claims in the U.S., resulting in widespread disruptions.

Grindr (NYSE:GRND) – Hundreds of users are suing Grindr in London, alleging unauthorized sharing of private information, including HIV status. Grindr denies accusations of sharing for commercial purposes, promising a vigorous defense. The company’s director emphasizes the commitment to the data safety of LGBTQ+ users.

Hibbett (NASDAQ:HIBB) – In pre-market trading, Hibbett was up 18.4%, reaching $85.82, after JD Sports Fashion announced the acquisition of the sports apparel retailer for $1.1 billion, paying $87.50 per share.

Tapestry (NYSE:TPR), Capri Holdings (NYSE:CPRI) – On Monday, the U.S. Federal Trade Commission contested the $8.5 billion deal between Tapestry, owner of Coach, and Capri, owner of Michael Kors, claiming it would eliminate direct competition and could harm employee wages and benefits.

Kroger (NYSE:KR), Albertsons Cos (NYSE:ACI) – Kroger and Albertsons Cos expanded their planned sale of supermarkets to C&S Wholesale Grocers, now including an additional 166 locations, totaling 579 stores. This move aims to secure regulatory approval for their $25 billion merger, addressing concerns over prices and jobs. C&S will pay approximately $2.9 billion in cash for the stores.

Earnings

General Motors (NYSE:GM) – Shares of GM rose 3.6% in pre-market trading after the company increased its projections for 2024 following a first-quarter performance that exceeded Wall Street expectations. GM revised its expected adjusted earnings for 2024 upwards to between $12.5 billion and $14.5 billion, and net profit for shareholders to between $10.1 billion and $11.5 billion. Additionally, it raised its free cash flow forecast to between $8.5 billion and $10.5 billion. For the first quarter, revenue was $43.01 billion and net profit reached $2.95 billion. Earnings per share were $2.62 adjusted, against $2.15 expected by LSEG estimates.

United Parcel Service (NYSE:UPS) – Shares of UPS rose 2% in pre-market trading on Tuesday, after reporting a net profit of $1.11 billion, or $1.30 per share, surpassing estimates. The adjusted earnings per share of $1.43 also exceeded expectations, while total revenue of $21.7 billion was slightly below projections. For 2024, the company maintained its revenue projection between $92 billion and $94.5 billion, with capital expenditures of $4.5 billion.

SAP SE (NYSE:SAP) – Shares of SAP SE rose 3.4% in pre-market, after recording a record 28% growth in constant currency cloud backlog, reaching €14.2 billion. Adjusted cloud revenue grew by 25%, totaling €3.9 billion. However, a provision of €2.2 billion resulted in a loss of €787 million, impacting operating profit. The non-IFRS operating profit was €1.53 billion, below the €1.7 billion estimate due to share-based compensation expenses.

Globe Life (NYSE:GL) – Shares of the life insurer increased 1.4% in pre-market after it raised its profit projections for the full year. For 2024, Globe Life now expects earnings per share between $11.50 and $12.00, surpassing the previous range of $11.30 to $11.80. Additionally, the company reported first-quarter financial results that aligned with FactSet consensus estimates for both earnings and operating revenues.

Novartis (NYSE:NVS) – Shares of Novartis surged 5.7% in pre-market on Tuesday, boosted by the Swiss pharmaceutical company raising its outlook for the year. In the first quarter, Novartis recorded a profit of $2.69 billion, a 25% increase, with sales of $11.83 billion, up 10%. Its basic earnings per share rose 17%, to $1.80.

Crane Company (NYSE:CR) – The industrial products company saw its shares rise 3.6% in pre-market after reporting first-quarter financial results that exceeded analyst expectations. Crane recorded adjusted earnings of $1.22 per share, surpassing the FactSet consensus estimate of $1.13 per share. Additionally, its revenue of $565.3 million exceeded expectations of $546.4 million.

Alexandria Real Estate Equities (NYSE:ARE) – Shares rose 2.3% in pre-market after Alexandria surpassed revenue projections for the first quarter. The biotech sciences REIT achieved revenue of $769.1 million, exceeding the FactSet consensus estimate of $764.4 million. Alexandria reported a net profit of $166.9 million, or 97 cents per share.

TrustCo Bank Corp NY (NASDAQ:TRST) – The regional bank’s stock value increased 2.7% after TrustCo recorded a profit of 64 cents per share in the first quarter, surpassing the FactSet consensus forecast of 60 cents per share. The quarter’s revenue was $61.48 million against the consensus estimate of $43.13 million.

Ameriprise Financial (NYSE:AMP) – Ameriprise Financial reported an increase in adjusted first-quarter profit, driven by higher fees and assets under management (AUM). Management and financial advisory fees rose 12% to $2.4 billion, while total client assets reached $954 billion. Adjusted earnings per share for Ameriprise Financial in the first quarter were $8.39, compared to $7.25 the previous year. The company’s total revenue for the quarter reached $2.4 billion, representing a 12% increase from the same period last year.

Calix (NYSE:CALX) – The cloud service and software provider saw a 16.8% drop in pre-market trading after announcing lower-than-expected projections for the second quarter. Calix expects earnings between 3 and 9 cents per share, with revenue ranging from $197 million to $203 million. Analysts surveyed by FactSet had predicted earnings of 24 cents per share, with revenue of $232.8 million. In the first quarter, earnings per share were $0.21, better than the $0.20 estimate, while revenue was $226.3 million against the consensus estimate of $228.14 million.

Cadence Design Systems (NASDAQ:CDNS) – Shares fell 5.6% in pre-market after the software company announced unfavorable projections for the second quarter. In the first quarter, Cadence earned $1.17 adjusted per share on sales of $1.01 billion. Analysts surveyed by FactSet had expected earnings of $1.13 per share on sales of $1 billion. Year-over-year, Cadence’s earnings fell 9%, while sales dropped 1%. Cadence Design Systems anticipates earnings per share between $1.20 and $1.24 in the second quarter, below the $1.43 per share forecast by analysts consulted by FactSet. Additionally, the revenue projection, ranging between $1.03 billion and $1.05 billion, also fell short of the FactSet consensus estimate of $1.11 billion.

Cleveland-Cliffs (NYSE:CLF) – The steel manufacturer’s stock dropped 2.8% in pre-market after first-quarter results fell short of analyst forecasts, with adjusted earnings of 18 cents per share and revenue of $5.2 billion. Analysts surveyed by LSEG had anticipated earnings of 22 cents per share and revenue of $5.35 billion.

Nucor (NYSE:NUE) – After first-quarter results from the steel company fell below expectations and it provided a less optimistic forecast for the second quarter, its shares dropped 6.1% in pre-market trading on Tuesday. First-quarter earnings, at $3.46 per share, did not meet the average estimate of $3.67 per share as predicted by FactSet. Similarly, revenue of $8.14 billion was lower than the $8.26 billion expected. Nucor anticipates lower earnings in the second quarter, attributing this to reduced profits from the steel segment, primarily due to lower selling prices, even though there is a modest increase in volumes.

Packaging Corporation of America (NYSE:PKG) – The stock value fell 3.4% in pre-market, despite the containerboard manufacturer recording first-quarter profits that exceeded expectations. Packaging Corp. achieved adjusted earnings per share of $1.72, surpassing the analyst forecast of $1.68 per share made by FactSet. Additionally, its revenue of $2.0 billion also exceeded the consensus estimate of $1.91 billion.

Medpace (NASDAQ:MEDP) – The stock value decreased 1.7% in pre-market after Medpace reported that its first-quarter revenue did not meet estimates. The clinical research company recorded revenue of $511.0 million, below the $512.4 million projected by analysts surveyed by FactSet. Earnings per share were $3.20, $0.72 better than the analyst estimate of $2.48. For fiscal year 2024, Medpace projected earnings per share of $10.79 to $11.47 and revenue of $2.15 billion to $2.20 billion, compared to analyst consensus of $10.70 and $2.19 billion.

Simpson Manufacturing (NYSE:SSD) – The structural solutions manufacturer reported a decrease in revenue and profit in the first quarter. Simpson recorded earnings of $1.77 per share, a 14.3% drop compared to the previous year. Additionally, its revenue of $530.6 million fell nearly 1% from the same period last year.

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