BHP Group (NYSE:BHP) – Anglo American has
rejected BHP’s acquisition proposal of $38.88 billion, stating it
significantly undervalues the company and its future prospects. The
offer of £25.08 per share represented a 31% premium, but Anglo
considered it opportunistic. BHP may need to increase its offer by
May 22 for a successful deal.
Toyota Motor (NYSE:TM) – Toyota announced a
$1.4 billion investment in its Princeton, Indiana facilities to
assemble a three-row electric SUV, bringing the total investment to
$8 billion and adding 340 jobs. The plant will also house a new
lithium-ion battery assembly line.
Amazon (NASDAQ:AMZN) – Key Amazon executives,
including Jeff Bezos and Andy Jassy, reportedly destroyed text
messages via Signal, hampering the FTC’s antitrust investigation.
The lawsuit claims this action hindered the analysis of the
company’s business conduct. The FTC is seeking information on
executive communications and their message retention
instructions.
Rubrik (NYSE:RBRK) – Rubrik’s shares closed up
16%, ending the day at $37 per share, on their New York Stock
Exchange debut on Thursday, valuing the cybersecurity company,
backed by Microsoft, at $5.6 billion. Rubrik raised $752 million in
the IPO. The startup joins others in robust IPOs, driven by hope
for a stable economy.
Reddit (NYSE:RDDT) – Reddit reported on
Thursday a successful fix of an issue that caused a platform outage
for over half an hour. The glitch affected nearly 70,000 users in
the US, as well as users in other countries like the UK and
India.
Warner Bros Discovery (NASDAQ:WBD) – Warner
Bros Discovery is launching Olli, a data platform to optimize ad
targeting on cable and digital channels. The data-driven video
service aims to reach specific demographics, with trials planned by
the Interpublic Group of Companies in the third quarter of this
year.
T-Mobile (NASDAQ:TMUS) – The U.S. Federal
Communications Commission (FCC) announced on Thursday the approval
of the acquisition deal of Ka’ena Corp by T-Mobile US, valued at up
to $1.35 billion. This deal aims to facilitate the transition of
customers and is scheduled to be completed on May 1st.
Additionally, T-Mobile plans to invest approximately $950 million
in a joint venture with the Swedish investment fund EQT to acquire
the fiber network provider Lumos. T-Mobile will invest another $500
million to expand coverage to 3.5 million homes by 2028.
Citigroup (NYSE:C) – About 30 years ago,
Citigroup executives, including Donald Mackenzie, Steven Koltes,
and Rolly van Rappard, left to found CVC Capital
Partners (EU:CVC). Their IPO this week made them big
winners, with a fortune of about $4.4 billion, highlighting the
successful trajectory of the private equity firm.
BlackRock (NYSE:BLK) – BlackRock is adjusting
its wealth management client relationship approach in the U.S.,
moving a seasoned executive to cultivate ties, particularly in
Texas, where it faced environmental criticisms. Michael Lane will
lead this effort, aiming to strengthen connections and ease
tensions as the company seeks to expand its presence.
CME Group (NASDAQ:CME) – BGC Group, in
partnership with major Wall Street banks and traders, challenges
the leadership of CME Group. Investing in FMX, valued at $667
million, the platform offers trading in Treasury securities and
currencies, aiming to compete with CME.
Cigna (NYSE:CI) – Cigna plans to offer
biosimilars of the drug Humira, including high and low
concentration versions, through its Accredo pharmacy, providing an
affordable alternative for eligible patients in the U.S. starting
in June. These biosimilars will have a direct cost reduced to zero,
offering an average savings of $3,500 per year for patients.
GSK (NYSE:GSK), Pfizer
(NYSE:PFE), BioNTech (NASDAQ:BNTX) – GSK sued
Pfizer and BioNTech for patent infringement related to mRNA in
their successful Covid-19 vaccines. Pfizer and BioNTech deny the
allegations, promising a vigorous defense. The litigation adds to
previous disputes over patent royalties between the pharmaceutical
companies in the U.S.
Altria Group (NYSE:MO) – Altria is pressing the
U.S. FDA to combat illegal vaping products, competing with its
NJOY. CEO Billy Gifford argues that the FDA’s approach is
insufficient, considering the proliferation of unauthorized
e-cigarettes, seen as a public health threat.
Walmart (NYSE:WMT) – Rob Walton, the
longest-serving member of Walmart’s board, will retire on June 5th.
During his tenure as chairman, sales increased from $44 billion to
$648.1 billion. Walmart has named Brian Niccol to replace him on
the board. Rob Walton owns 0.09% of the shares, valued at about
$420 million.
Chipotle Mexican Grill (NYSE:CMG) – Chipotle
instructed employees to avoid ordering chicken in their meals due
to excessive demand, but now allows them to do so freely again
after a week-long restriction. CEO Brian Niccol stated that the
chicken supply crisis has been overcome. The previous policy caused
controversy among workers.
United Parcel Service (NYSE:UPS),
FedEx (NYSE:FDX) – UPS and FedEx face challenges
in acquiring electric vans in the U.S., crucial for reducing
emissions and meeting climate goals. Battery shortages and the
bankruptcy of manufacturers complicate the transition. Although
California has suspended rules requiring exclusive use of electric
vehicles, the challenge persists.
Boeing (NYSE:BA) – Boeing’s credit rating faced
new pressure this week, with S&P nearly downgrading it to junk
on Thursday. The agency changed its outlook from “stable” to
“negative”, highlighting potential delays in cash flow recovery and
leadership uncertainties.
Tesla (NASDAQ:TSLA) – Elon Musk is opting to
use existing models for more affordable vehicles instead of
creating new ones, indicating a more conventional automotive
future. The change follows plans filed for a new affordable model.
Additionally, according to an SEC document, Drew Baglino, a former
Tesla executive, sold approximately $181.5 million in company
shares. Baglino, a Tesla veteran since 2006 and former senior vice
president, left amid a plan to lay off 10% of the global workforce.
He sold 1.1 million shares.
Citigroup (NYSE:C)
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