Apple (NASDAQ:AAPL) – In April, Apple’s iPhone
sales in China surged by 52% compared to the previous year,
recovering from a challenging start to the year. This increase
comes despite strong competition from local manufacturers like
Huawei. Overall smartphone sales in the country also grew, totaling
22.7 million units. At the upcoming developer conference, Apple
will introduce the Greymatter Project, integrating AI into popular
apps and improving notifications. Initiatives such as a new
diversity chief and external collaborations are also highlights.
Apple, although lagging behind rivals in AI, plans to leverage its
large customer base as an advantage.
Alphabet (NASDAQ:GOOGL) – Groups from various
sectors, including aviation, hospitality, and retail, have urged EU
regulators to ensure that Google takes their perspectives into
account when adapting its operations to the new Digital Markets Act
(DMA). They are concerned that the changes may disproportionately
benefit large online intermediaries, negatively affecting their own
revenues. Meanwhile, the safety of Waymo’s autonomous vehicles,
another Alphabet subsidiary, is under increased scrutiny in the US
following the identification of new incidents. The primary
automotive safety regulator has expanded its investigation, adding
nine cases of collisions and traffic violations, involving a total
of 17 vehicles in accidents. Additionally, Alphabet continues to
expand its influence, with a new investment of around $350 million
in Flipkart, an Indian online retailer controlled by Walmart. This
investment is part of a broader financing round of approximately $1
billion, led by Walmart, which has already allocated $600 million
to Flipkart, one of Amazon’s main competitors in India.
Meta Platforms (NASDAQ:META) – Meta Platforms
has enhanced security measures on its CrowdTangle tool, now
dedicated to monitoring misinformation during the European
Parliament elections. These improvements aim to reassure the EU,
which is investigating the tool’s effectiveness. Candidates will be
guided on account protection on Meta platforms.
Flutter Entertainment (NYSE:FLUT) – Shares of
Flutter Entertainment, owner of DraftKings
(NASDAQ:DKNG) and FanDuel, fell by up to 4% in pre-market trading
following the approval by the Illinois Senate of a bill that
increases taxes on sports betting. The new legislation positions
Illinois as the second most costly state for the sports betting
sector, with higher gross adjusted revenue companies paying up to
40% tax. DraftKings shares fell by 5.5%.
Amazon (NASDAQ:AMZN) – Amazon Web Services
(AWS) is in negotiations with Italy to invest billions in expanding
its data centers, aiming to strengthen its cloud presence in
Europe. The amount and location of the investment are being
discussed, with possibilities including expansion in Milan or the
construction of a new facility.
Alibaba (NYSE:BABA) – AliExpress, owned by
Alibaba, has hired David Beckham as an ambassador to strengthen its
position against PDD Holdings’ Temu. This move aims to boost the
platform in the global market for affordable Chinese products.
Beckham’s campaign will coincide with sponsorship of UEFA Euro
2024, seeking greater engagement and sales.
PDD Holdings (NASDAQ:PDD) – PDD Holdings
shares, owner of Temu, are undervalued due to geopolitical tensions
and intense competition in the e-commerce sector in China,
according to Bloomberg. Despite significant growth of 43% since
March, the valuation is still modest, trading at 13 times expected
earnings, half the Nasdaq 100 average.
Nokia (NYSE:NOK) – Nokia is close to securing a
contract to provide 5G technology to MEO, a telecommunications
operator in Portugal, surpassing Huawei, the current supplier of
MEO’s 2G, 3G, and 4G RAN equipment. The agreement has not yet been
signed, but the announcement is expected soon.
Taiwan Semiconductor Manufacturing Co.
(NYSE:TSM) – TSMC shares are being widely bought by foreign
investors, driven by the rise in the AI sector following Nvidia’s
strong results. Foreign ownership has reached 75%, the highest in
two years, but still below the 2017 record. This indicates
potential for further purchases, according to Goldman Sachs.
Nvidia (NASDAQ:NVDA) – Nvidia shares rose by
2.6% in pre-market trading after Elon Musk’s announcement about his
xAI startup. In the latest round of fundraising for xAI, a
significant portion of that amount is expected to be invested in
Nvidia hardware.
Tesla (NASDAQ:TSLA) – Glass Lewis advisory firm
has advised Tesla shareholders to reject a proposed $56 billion pay
package for CEO Elon Musk, citing its “excessive size” and
potential dilutive effect. The package, linked to Tesla’s market
value, is considered the largest for a CEO in American corporate
history. Elon Musk’s artificial intelligence startup, xAI, raised
$6 billion in a Series B round to compete with OpenAI. Less than a
year after its creation, xAI plans to use the funds to launch
products, develop infrastructure, and accelerate innovations, with
a post-investment valuation of $24 billion.
Toyota Motor (NYSE:TM) – Toyota has unveiled
new engines to meet stricter emissions standards, in partnership
with Subaru and Mazda. These engines, including a 2.0-liter turbo,
promise efficiency and reduced environmental impact. Additionally,
Glass Lewis advisory recommended that Toyota shareholders vote
against the re-election of president Akio Toyoda at the next annual
general meeting. They argue that the board lacks sufficient
independence. Toyoda, who was re-elected last year with 85% of the
votes, is the grandson of the company’s founder.
Stellantis (NYSE:STLA) – Stellantis announced
it will produce a hybrid version of the Fiat 500e at its Mirafiori
plant in Turin, Italy, in response to slowing electric vehicle
sales. CEO Carlos Tavares discussed this strategy during a meeting
with unions demanding a more affordable and high-volume model.
Lucid (NASDAQ:LCID) – Lucid announced the
dismissal of around 400 employees, representing 6% of its
workforce, as part of an effort to reduce costs amid a slowing
electric vehicle market. The layoffs are expected to be completed
by the end of the third quarter, generating restructuring costs
between $21 million and $25 million, with the majority being
accounted for in this quarter.
Gol Linhas Aéreas Inteligentes SA (NYSE:GOL),
Azul SA (NYSE:AZUL) – Azul and Gol have initiated
a flight network connection, suggesting a possible future
consolidation. Discussions about a merger between the two companies
are still ongoing. Gol expects to emerge from bankruptcy
proceedings with a $1.5 billion injection of new capital and the
refinancing of $2 billion in debt. The Brazilian airline, which
filed for bankruptcy in the US due to debts and Boeing delays,
detailed this in a regulatory document.
DuPont de Nemours (NYSE:DD) – DuPont shares
rose by 1.2% in pre-market trading after Citi analysts upgraded
their recommendation from neutral to buy and increased the price
target from $85 to $95. This upgrade was driven by the company’s
plans to split into three parts, as reported by Fly. Last week,
Wells Fargo also upgraded DuPont’s stock rating from hold to
buy.
BP plc (NYSE:BP), Shell
(NYSE:SHEL), EOG Resources (NYSE:EOG) – In the
2023 shallow-water auction in Trinidad and Tobago, BP, Shell, and
EOG Resources submitted six proposals to explore four oil and gas
blocks. The Modified UC block, near existing fields, was the most
contested. Results will be announced in four months.
BlackRock (NYSE:BLK) – Major shareholders of
Anglo American (NASDAQ:AAL), including BlackRock, have encouraged
continued negotiations with BHP Group (NYSE:BHP) on a merger
proposal valued at $49.18 billion. BHP, the world’s largest listed
miner, has until May 29 to formalize an offer, under UK takeover
rules.
Blackstone (NYSE:BX) – Blackstone acquired a $1
billion portfolio of mortgages from Deutsche Pfandbriefbank AG,
reflecting the German bank’s challenge with volatile commercial
real estate markets. Comprising 11 loans in the US and UK, the
purchase was made in cash by Blackstone’s real estate debt
strategies unit.
UBS Group AG (NYSE:UBS) – UBS has decided not
to consider external candidates to replace CEO Sergio Ermotti and
will focus on three internal options. The Financial Times reported
that the Swiss bank may reveal the names of potential successors at
the next annual meeting. Iqbal Khan, among others, is on the list
of candidates.
Goldman Sachs (NYSE:GS) – Goldman Sachs
economists, led by Jan Hatzius, adjusted the forecast for the first
interest rate cut by the Federal Reserve to September, instead of
July. This aligns with current employment and inflation conditions,
which do not indicate an immediate need for cuts. The probability
of a cut in September is 52.2%, as shown by interest rate futures.
The team maintains the expectation of two cuts in 2024.
Citigroup (NYSE:C) – Citigroup has asked 600 of
its eligible employees in the US to return to the office full-time.
This decision stems from regulations that make remote work
difficult for activities like trading. However, most will continue
with a hybrid scheme, working at least three days in the
office.
Capital One (NYSE:COF),
Walmart (NYSE:WMT) – Capital One will no longer be
the exclusive issuer of Walmart credit cards, after terminating the
agreement due to the retailer’s claims of delays in transaction
updates and replacement of lost cards. The partnership, started in
2018 after the end of the relationship with Synchrony Financial,
was terminated after a favorable court decision for Walmart.
Waystar Holding Corp. – The healthcare payment
software company is preparing for an initial public offering in the
US for Tuesday. With backers like EQT AB and the Canada Pension
Plan Investment Board, the offering could raise about $950 million
in new shares, potentially valuing the company at up to $6 billion.
Waystar plans to trade its shares on Nasdaq under the symbol
WAY.
FedEx (NYSE:FDX) – FedEx announced on Friday
that it has resumed its priority international delivery services to
Ukraine while continuing to suspend services in Belarus and Russia.
The decision follows the initial interruption of operations in the
region after the Russian invasion of Ukraine in February 2022.
Live Nation (NYSE:LYV) – Live Nation and
Ticketmaster face a class-action antitrust lawsuit, the first after
US government lawsuits. The lawsuit, filed in Manhattan, seeks $5
billion for monopolistic practices in the live events market.
Plaintiffs allege that the company threatens venues and eliminates
competitors.
GameStop (NYSE:GME) – GameStop shares rose by
20% in pre-market trading after announcing on Friday the completion
of a 45 million share offering, raising about $933.4 million. The
company stated it will use these funds for general corporate
purposes, such as acquisitions and investments. The offering was
initially disclosed on May 17.
Starbucks (NASDAQ:SBUX) – In China, Starbucks
faces increasing competition from low-cost rivals like Luckin
Coffee, which aggressively lower prices. This pressures Starbucks
to participate in a price war, despite its preference for
maintaining a premium image and avoiding significant discounts.
McDonald’s (NYSE:MCD) – McDonald’s franchisees
are concerned about the chain’s new summer promotion, offering a
combo for $5. Despite some locations already selling such items
separately for over $5, the offer includes a McDouble or McChicken,
small fries, small soda, and four McNuggets. Franchisees argue that
this promotion squeezes their already tight profit margins. The
campaign, starting on June 25, is part of the company’s efforts to
increase out-of-home consumption.
Eli Lilly (NYSE:LLY) – Eli Lilly announced an
additional $5.3 billion investment in its new facility in Lebanon,
Indiana, bringing the total to $9 billion. This investment aims to
increase production of ingredients for its weight loss and diabetes
drugs, Zepbound and Mounjaro, due to high demand.
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