VF Corp (NYSE:VFC) – VF Corp, the owner of Vans and North Face brands, sold two jets and listed a hangar for sale as part of its cost-cutting and cash-generating strategies. These actions are part of the company’s plan to address continuous revenue declines and prepare for future debt maturities.

Morgan Stanley (NYSE:MS) – James Gorman, former CEO of Morgan Stanley, will step down as chairman of the board at the end of the year, highlighting the smooth transition to CEO Ted Pick. Despite the approval of proposed salary packages, the relatively low support reflects a trend of declining support for executive compensation in the financial industry.

Goldman Sachs (NYSE:GS) – Goldman Sachs has obtained a license to establish its regional headquarters in Riyadh, Saudi Arabia. The decision follows new rules favoring companies with a regional presence in the country with tax incentives and the risk of losing lucrative government contracts for those not locally established.

HSBC (NYSE:HSBC) – According to Michael Roberts, CEO of HSBC in the US and the Americas, employee attendance at HSBC’s new office in Hudson Yards, New York, has increased to 80%, doubling from the 40% recorded at the old headquarters in Bryant Park before the pandemic.

Citigroup (NYSE:C), HSBC (NYSE:HSBC), Barclays (NYSE:BCS) – Citigroup, HSBC, and Barclays are requiring more employees to attend the office five days a week due to regulatory changes. These changes complicate remote work on Wall Street, forcing adaptations to flexible work policies.

Raymond James (NYSE:RJF) – Butch Oorlog was chosen by Raymond James Financial to succeed Paul Shoukry as CFO amid a series of executive changes. The appointments aim to ensure leadership continuity as the company prepares for a CEO transition and promotes other key executives.

KKR & Co (NYSE:KKR) – KKR expects to receive EU antitrust approval for the purchase of Telecom Italia’s fixed network. This approval is likely after KKR agreed to maintain commercial agreements with Telecom Italia’s rivals, easing regulatory concerns about competition. This $23.9 billion deal is notable for being the first of its kind in a major European country.

Nvidia (NASDAQ:NVDA) – Nvidia’s market value surged by about $218 billion on Thursday, driven by an optimistic revenue forecast and growing demand for AI chips. Nvidia also announced a 10-for-1 stock split following a notable price increase, aiming to attract more retail investors. This move could facilitate its inclusion in the Dow Jones Industrial Average. In the Chinese market, Nvidia’s latest AI chip had a slow start, selling at a lower price than Huawei’s rival chip due to abundant supply and low demand. This discount highlights the pricing and competition challenges Nvidia faces in China, particularly with increasing US sanctions and strong local competition.

Alphabet (NASDAQ:GOOGL) – Alphabet, the parent company of Google, by acquiring HubSpot, a marketing software maker, would strengthen its position in the cloud-based business software market, becoming a more robust competitor against Microsoft. The acquisition aims to integrate customer relationship management services, potentially enhancing Google’s capabilities to compete in the corporate market. In other news, Google is building the Umoja submarine cable, which will directly link Africa to Australia, improving connectivity in the region. The project follows the Equiano, which already connects Africa to Europe, and will expand internet access in under-connected parts. Additionally, Google will invest billions in Tamil Nadu, India, to assemble Pixel smartphones and drones, diversifying manufacturing outside China and boosting local industrialization.

Meta Platforms (NASDAQ:META), Alphabet (NASDAQ:GOOGL) – Alphabet and Meta Platforms are negotiating with Hollywood studios to license content for their AI technologies that create realistic videos from texts. They seek robust financial partnerships, while the studios evaluate the use of AI to reduce costs but are concerned about controlling their content.

Micron Technology (NASDAQ:MU) – A US jury determined that Micron Technology must pay $445 million to Netlist for patent infringement in memory module technology. Jurors concluded that Micron willfully infringed two Netlist patents, allowing the judge to increase financial damages. Micron’s shares are up 1.2% in pre-market trading.

Adobe (NASDAQ:ADBE) – Canva launched a set of design tools for corporate users, directly competing with Adobe by attracting large clients and accelerating revenue growth. Canva’s new tools, aimed at HR, sales, and design teams, simplify editing and ensure visual consistency in business documents.

Paramount Global (NASDAQ:PARA), Charter Communications (NASDAQ:CHTR) – Paramount Global has closed a multi-year deal with Charter Communications to distribute its full portfolio of cable networks and ad-supported versions of its streaming services, such as Paramount+ Essential and BET+ Essential, to Charter’s Spectrum TV customers at no additional cost. Financial terms of the agreement were not disclosed.

Tesla (NASDAQ:TSLA) – Tesla has removed the target of 20 million vehicles annually by 2030 from its report, signaling a shift in focus to robotaxis and indicating a pullback in developing affordable electric vehicles. Tesla also reduced Model Y production by double digits at its Shanghai plant, responding to decreasing demand in China, its second-largest market. This decision comes amid intense price competition among electric vehicle manufacturers and an economic slowdown in the country. Additionally, CEO Elon Musk has changed his stance and expressed opposition to US tariffs on Chinese electric vehicles. At an event in Paris, Musk emphasized that he did not request the recent tariffs implemented by Biden and stressed that market-distorting practices are harmful. Furthermore, Bloomberg reported on Thursday that SpaceX, also led by Elon Musk, is discussing the sale of existing shares that could value the company at approximately $200 billion, up from a previous valuation of $180 billion. On Friday, Elon Musk denied plans to sell SpaceX shares.

General Motors (NYSE:GM) – At the Detroit Economic Club, Mary Barra, CEO of General Motors, emphasized the importance of developing autonomous vehicles by GM, highlighting that the technology promises to be safer than human driving, reducing the risk of accidents caused by human error.

Boeing (NYSE:BA) – Brian West, CFO of Boeing, stated at the Wolfe Research conference that the company will face negative free cash flow in 2024 and does not foresee an increase in aircraft deliveries in the second quarter. Boeing is dealing with production crises affecting its best-selling models, as well as addressing safety concerns, as explained by the head of the Federal Aviation Administration (FAA). Boeing has been instructed to develop a plan within 90 days to correct systemic quality issues following incidents and a ban on expanding 737 MAX production. Boeing announced it has extended new hires’ training in manufacturing and quality skills from 10 to 14 weeks, including practice on a 737 fuselage section at its Renton training center, as part of an improvement after a 737 MAX 9 incident.

BHP Group (NYSE:BHP), Anglo American (USOTC:NGLOY) – BHP seeks to expand its copper portfolio by acquiring Anglo American, facing the challenge of overcoming the rejection of three acquisition proposals. After ongoing negotiations and the need for adjustments in the offer, Anglo American allows more time for a binding offer, highlighting the complexity and resistance encountered, including demands for a more attractive business structure for investors.

Hess Corp (NYSE:HES), Chevron (NYSE:CVX) – John Hess, CEO of Hess Corp, has until Tuesday to quell a shareholder rebellion dissatisfied with the management of a $53 billion merger proposal with Chevron. Support has dwindled in recent weeks, complicating the necessary approval, despite Hess personally seeking investor support. The decision is critical amid regulatory uncertainty and arbitration disputes impacting the deal.

Earnings

Workday (NASDAQ:WDAY) – Workday reported adjusted earnings per share of $1.74, above FactSet’s estimates of $1.58 per share. Revenue rose to $1.9 billion, below expectations of $1.97 billion. For the second quarter, Workday forecasted subscription revenue of $1.895 billion, while StreetAccount consensus forecasts $1.9 billion. Shares fell 12.3% in pre-market trading.

Intuit (NASDAQ:INTU) – Intuit reported third-quarter adjusted earnings per share of $9.88. Revenue increased 12% to $6.74 billion. Analysts expected adjusted earnings per share of $9.38 on revenue of $6.65 billion, according to FactSet. For the fiscal fourth quarter, Intuit estimates adjusted earnings of $1.80 to $1.85 per share, while analysts consulted by FactSet expect $1.92 per share. Shares fell 6.2% in pre-market trading.

Ross Stores (NASDAQ:ROST) – Ross Stores shares rose 7.9% in pre-market trading after reporting first-quarter earnings of $1.46 per share and revenue of $4.86 billion. Analysts predicted earnings of $1.35 per share and revenue of $4.83 billion, according to LSEG.

Deckers Outdoor (NYSE:DECK) – Deckers shares rose 8.1% in pre-market trading after reporting fourth-quarter net income of $127.5 million or $4.95 per share, on revenue of $960 million. Analysts consulted by LSEG predicted earnings of $2.89 per share and revenue of $888 million. For the year, the company expects earnings per share of $29.50 to $30, compared to $30.74 per share expected by analysts consulted by FactSet.

Stepstone Group (NASDAQ:STEP) – The StepStone Group announced fourth-quarter 2024 results, with earnings per share of 33 cents, beating the 28 cents estimate. Reported revenue was $177.36 million, 9.16% above analysts’ forecast of $162.47 million. Shares rose 3.0% in pre-market trading.

Lionsgate (NYSE:LGF.B) – In the fourth quarter, Lionsgate reported revenues of $1.11 billion, representing a 3% increase compared to the same period last year. The company managed to reduce its net loss by 59% year over year, from $96.8 million to $39.5 million in the fiscal fourth quarter of 2024, corresponding to a loss of 22 cents per share. Shares rose 3.9% in pre-market trading.

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