Walt Disney (NYSE:DIS) – Disney managed to
secure the release of Deadpool & Wolverine in Chinese cinemas
in July, after previous restrictions. This move increases Disney’s
revenue potential as American films often generate more revenue in
China than in the US. Additionally, Pixar’s Inside Out 2 grossed an
impressive $155 million on its opening weekend in the US and
Canada, surpassing Dune: Part Two as the year’s biggest opening.
With a global total of $295 million, it marks the highest opening
weekend for an animated film in history.
Goldman Sachs (NYSE:GS) – Goldman Sachs raised
its forecast for the S&P 500 index in 2024 to 5,600, citing
strong earnings growth from five major technology companies and a
higher price-earnings multiple. Microsoft, Nvidia, Google,
Amazon.com, and Meta Platforms, which now represent 25% of the
S&P 500, drove this revision.
UBS Group AG (NYSE:UBS) – UBS expects to record
a provision of around $900 million to address losses in Credit
Suisse funds related to the bankrupt Greensill Capital. This move
follows UBS’s acquisition of Credit Suisse after significant
financial troubles for the latter.
Deutsche Bank AG (NYSE:DB) – Deutsche Bank
agreed to acquire $1.8 billion in aviation loans from NordLB, part
of NordLB’s strategic move to exit the sector and focus on
renewable energy financing. The deal, following a bidding process,
is expected to close by the second half of 2024.
Barclays (NYSE:BCS) – The UK’s Prudential
Regulation Authority (PRA) is pressuring Barclays to review its
exposure to leveraged finance as part of a comprehensive
investigation into the risks associated with the private equity
sector, valued at approximately $8 trillion globally in 2023, a
significant increase from around $2 trillion in 2013. The review
includes an independent report to examine this exposure in detail.
Additionally, Barclays suspended its sponsorship of Live Nation’s
music festivals in the UK, such as Latitude and Download, after
protests related to the bank’s alleged ties to the Israel-Hamas
conflict. This followed pressure from pro-Palestinian artists and
activists for the bank to cut ties with defense companies linked to
Israel.
Carlyle Group (NASDAQ:CG) – Carlyle has hired
advisors to explore the sale of Cogentrix, valuing the power
producer at up to $3 billion to $4 billion. This move is part of a
broader strategy to divest energy assets while the public sector
attracts increasing interest due to technological advances and
energy demand. Additionally, Carlyle and KfW are negotiating to
acquire a majority of Thyssenkrupp Marine Systems, reflecting
growing interest in defense assets in post-war Ukraine Europe. The
deal could strengthen Germany’s position in the military sector and
spur future industry consolidations..
Apple (NASDAQ:AAPL) – Apple is taking a gradual
approach to launching its new artificial intelligence service,
avoiding past issues. Highlights include advances with the Vision
Pro, a new iPad Pro that could influence future thinner iPhones, a
partnership with OpenAI, and a satellite messaging service that
will soon become paid.
Apple (NASDAQ:AAPL), Meta
Platforms (NASDAQ:META) – Apple and Meta are likely to
face EU charges for failing to comply with the rules of the Digital
Markets Act, which aims to limit their market power. The charges,
prioritizing Apple, are expected to be presented before summer,
highlighting practices deemed anticompetitive.
Meta Platforms (NASDAQ:META) – Meta delayed the
launch of its Meta AI chatbot in Europe after regulators requested
a halt to plans to train its language model with local user posts.
The company argues that without local data, the experience would be
subpar, affecting AI innovation and competition on the
continent.
Microsoft (NASDAQ:MSFT) – Microsoft plans to
invest $7.16 billion (approximately €6.69 billion) in new data
centers in the Aragón region of Spain over 10 years. This expansion
aims to leverage the region’s abundant renewable energy
infrastructure, rivaling Amazon’s AWS plans in the same area.
Wedbush analysts raised Microsoft’s price target from $500 to $550,
citing positive customer reception to growing monetization of
services like Copilot and Azure. Microsoft rose 0.3% to $443.84 in
pre-market trading.
Amazon (NASDAQ:AMZN), Alphabet
(NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT) – European
industrial groups have warned that the EU’s cybersecurity
certification scheme (EUCS) for cloud services should not
discriminate against large companies like Amazon, Alphabet
(Google), and Microsoft. Discussions are ongoing to amend the
scheme, which aims to select secure and reliable cloud providers,
promoting non-discriminatory practices.
Alphabet (NASDAQ:GOOGL) – Alphabet CEO Sundar
Pichai testified that there was never any intention to buy Ozy
Media for any amount. Ozy co-founder Carlos Watson is accused of
fraud for lying about Google’s interest in the acquisition,
resulting in fraudulent investments in the media startup. In other
news, Google will face a trial over antitrust charges in the US,
rejecting a motion to dismiss the case without trial. Judge Leonie
Brinkema scheduled the trial for September 9, while Google seeks to
clarify allegations of illegal monopolization in the digital
advertising market.
Autodesk (NASDAQ:ADSK) – Activist investor
Starboard Value acquired a stake of approximately $500 million in
Autodesk, seeking changes at the software company. Starboard met
with executives to propose board changes, criticizing Autodesk for
not disclosing its internal investigation earlier. Autodesk shares
have fallen 7% this year.
Taiwan Semiconductor Manufacturing Co.
(NYSE:TSM) – According to Bloomberg, the strategy of arbitrage by
buying TSMC shares in Taipei and short-selling its American
Depositary Receipts (ADRs) in the US is becoming painful. ADRs are
trading at a significant premium of about 21%, driven by global
enthusiasm for artificial intelligence, complicating this arbitrage
strategy.
Vodafone Group Plc (NASDAQ:VOD) – Vodafone
plans to sell its stake in Indus Towers Ltd., potentially raising
over $2 billion. The sale could include all or part of its 21%
stake in the Indian tower company, formed in partnership with
Bharti Airtel Ltd. and Idea Cellular in 2007.
Toyota Motor (NYSE:TM) – At Toyota’s Annual
General Meeting (AGM), Chairman Akio Toyoda faces governance
challenges following certification scandals. Despite advisory firms
like ISS and Glass Lewis recommending his non-reelection due to
governance concerns, Toyoda is expected to be reelected due to
shareholder support, according to Reuters.
General Motors (NYSE:GM) – General Motors leads
the US auto stocks market in 2024, driven by profit improvements
and a massive $16 billion share buyback strategy. While other
companies like Tesla and Ford face challenges, GM stands out with
projected profit growth and capital returns to shareholders.
Tesla (NASDAQ:TSLA) – Tesla will use the strong
support received for CEO Elon Musk’s $56 billion pay package in a
recent vote to argue in a Delaware court that the 2018 deal should
be validated. This package is considered the largest corporate
compensation in history. However, Tesla shares remain volatile,
falling 27% this year due to intense competition and production
challenges. The company seeks to maintain its position with new
models and a focus on AI technology. In China, Shanghai is allowing
10 Tesla vehicles to test the company’s most advanced autonomous
driving software, aiming for its release. Tesla will also conduct
software repairs on 5,836 imported cars in China starting in July,
addressing safety issues. In other news, Lindsay Short sued
Neuralink, alleging she was forced to work with monkeys infected
with the Herpes B virus without adequate protection. She accuses
the company of gender discrimination, wrongful termination, and
retaliation after reporting her pregnancy, highlighting a hostile
work environment and dangerous conditions.
Stellantis NV (NYSE:STLA) – Stellantis NV
reversed its remote work policy for automotive engineers, bringing
them back to the office at least three days a week. CEO Carlos
Tavares initially supported remote work to cut expenses but now
sees the need for physical collaboration to accelerate new vehicle
projects.
Boeing (NYSE:BA) – Boeing’s Starliner, after
facing technical challenges during its mission to the International
Space Station, is scheduled to return to Earth with NASA astronauts
on June 22. This inaugural crewed flight is crucial to certify the
spacecraft for future space missions, despite technical setbacks
during its stay on the ISS. In other related news, Boeing informed
suppliers of a three-month delay in a key production milestone for
its 737 jets, from June to September, due to ongoing challenges
affecting production, including regulatory scrutiny and supply
constraints. Senator Chuck Grassley is launching a new inquiry into
Boeing and the Federal Aviation Administration (FAA) following an
emergency involving an Alaska Airlines Boeing 737 MAX 9. Grassley
demands explanations for safety failures and corrective measures,
while Boeing faces multiple investigations and pressures for
management reforms. The FAA is also investigating the use of
falsified documents to verify the authenticity of titanium in
recently manufactured Boeing and Airbus aircraft. This led Boeing
to issue a bulletin on vigilance against fake records, affecting a
small number of parts with no impact on safety, while Spirit
AeroSystems (NYSE:SPR) removed affected parts from its
production.
Southwest Airlines (NYSE:LUV) – On Friday, it
was reported that in April a Southwest Airlines flight nearly hit
the ocean during a landing attempt in Hawaii, after adverse weather
conditions caused a rapid descent. The Boeing 737 Max 8 was saved
by a crew maneuver, reversing a sharp drop in altitude. Aviation
safety authorities are also investigating a Southwest Airlines
flight between Phoenix and Oakland that experienced an unusual
pitch on May 25, possibly due to a damaged backup power control
unit. The Boeing 737 Max 8 landed without incident after
experiencing a movement known as “Dutch roll” at 34,000 feet. After
the incident, damage was found in a backup power unit and
structural components.
Novo Nordisk (NYSE:NVO) – Novo Nordisk CEO Lars
Jorgensen will voluntarily testify at a US Senate hearing on the
high prices of weight loss drugs Ozempic and Wegovy. The hearing,
initially set to require a subpoena, will now proceed without this
need, as announced by Senator Bernie Sanders.
Gilead Sciences (NASDAQ:GILD) – Gilead Sciences
is advancing in the obesity drug market with its candidate GS-4571.
Promising results in preclinical trials, including significant
weight loss in monkeys, are eagerly awaited at the American
Diabetes Association conference. This marks an important
diversification beyond HIV, targeting a global market valued at
over $100 billion by 2028.
Coca-Cola (NYSE:KO), Starbucks
(NASDAQ:SBUX) – Coca-Cola and Starbucks are seeking new
registrations of their trademarks in Russia to protect their
intellectual property rights after exiting the country due to
Moscow’s invasion of Ukraine in 2022. These measures aim to
maintain brand protection while not operating commercially in the
region.
Cava Group (NYSE:CAVA), Chipotle
Mexican Grill (NYSE:CMG) – The IPO of Cava Group, a
Mediterranean food restaurant operator, has surged more than 300%
since June 2023, reaching a market valuation of over $10 billion,
equivalent to about $33 million per restaurant. This significantly
surpasses Chipotle’s initial per-restaurant valuation after its
first year on the public market. Cava’s success reflects market
demand for fast-casual concepts with rapid growth, although some
analysts express concerns about overvaluation.
Microsoft (NASDAQ:MSFT)
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