Match Group (NASDAQ:MTCH) – The activist
investor Starboard, which holds more than 6.5% of Match, the owner
of Tinder, is pushing for a sale of the company if the recovery
does not occur, according to the Wall Street Journal. Starboard
suggests improvements in Tinder, Match’s primary revenue source,
and sees potential in Hinge. If changes fail, it considers taking
the company private. The shares jumped 7.8% in pre-market
trading.
Deutsche Bank (NYSE:DB) – Deutsche Bank is
expected to post a loss in the second quarter, ending a streak of
15 consecutive profitable quarters. This is mainly due to a
provision of €1.3 billion for a lengthy legal battle related to the
undervalued acquisition of Postbank. This setback marks a challenge
for the recovery led by CEO Christian Sewing. The shares fell 1.03%
in pre-market trading.
Berkshire Hathaway (NYSE:BRK.A) – Berkshire
Hathaway’s BRK.A shares hit an all-time high on Monday, closing at
$652,997.17 after peaking at $653,861. This performance, reflecting
confidence in the conglomerate as an indicator of the US economy,
raised its market value to about $937 billion. The shares are
stable in pre-market trading.
Goldman Sachs (NYSE:GS) – Following the Federal
Reserve’s annual stress test, Goldman Sachs will reduce its share
repurchases due to the need to reserve more capital. The bank
challenged the results, arguing that the increase in the stress
capital buffer does not reflect advancements in its business
structure and is in talks with regulators to understand the
assessments.
Wells Fargo (NYSE:WFC) – Wells Fargo has
increased interest rates on sweep accounts for investment advisory
clients, anticipating a $350 million reduction in net interest
income this year. This is not a competitive response but a specific
measure to improve returns in fiduciary and advisory accounts. The
shares rose 0.14% in pre-market trading.
Walt Disney (NYSE:DIS) – Internal information
from Walt Disney, including details about advertising campaigns,
studio technology, and job candidates, leaked online following a
hacker attack. The NullBulge group published over a terabyte of
data from Disney’s Slack collaboration system, covering
conversations and unreleased projects. Disney is investigating the
incident. The shares fell 0.09% in pre-market trading.
Apple (NASDAQ:AAPL) – Apple’s shares hit a
record high on Monday, driven by Morgan Stanley’s price target
increase from $216 to $273, highlighting it as the “top pick” due
to advancements in artificial intelligence. Analysts project a
significant impact of “Apple Intelligence” on iPhone and iPad
sales, predicting nearly 500 million iPhones sold in the next two
years, though only 8% of devices are compatible with the new
technology. Additionally, Apple released a public beta version of
iOS 18, allowing fans and developers to test new features before
the official release with the new iPhones in Q4. The shares rose
0.44% in pre-market trading on Tuesday.
Nvidia (NASDAQ:NVDA) – France’s antitrust
authority confirmed it is investigating Nvidia for potential
anti-competitive practices. The agency’s president, Benoit Coeure,
mentioned that Nvidia could face charges if the investigation
results in evidence of misconduct. The shares are down 0,30% in
pre-market trading.
ASML (NASDAQ:ASML) – ASML will report
second-quarter results on Wednesday morning, with new order data
relevant to reflect customer capacity expansion to meet growing AI
chip demand. There is also interest in whether Chinese companies
continued buying equipment to produce older chips, concerning
Western politicians who limit access to advanced technologies. The
shares rose 0.50% in pre-market trading.
International Business Machines (NYSE:IBM),
HashiCorp (NASDAQ:HCP) – IBM’s proposed $6.4
billion acquisition of HashiCorp will undergo a detailed antitrust
review by the US FTC. After receiving a second request for more
information, the approval process may extend. HashiCorp expects to
complete the deal by the end of the year.
Super Micro Computer (NASDAQ:SMCI) – Charles
Liang, CEO of Super Micro Computer, stated in an interview with
CNBC that the company is adopting strategies like liquid cooling
and green computing technologies to minimize the environmental
impact of data centers, reducing clients’ carbon footprints and
operational costs. The shares rose 0.26% in pre-market trading.
Alphabet (NASDAQ:GOOGL),
Microsoft (NASDAQ:MSFT) – Google unsuccessfully
proposed a package of about $512 million (€470 million) to EU cloud
companies to support an antitrust complaint against Microsoft. The
goal was to prevent a Microsoft deal that resolved antitrust
disputes in the EU and allowed companies fairer access to Microsoft
cloud technologies. Despite Google’s proposal, CISPE opted to
accept the Microsoft agreement, which included financial benefits
and improved Azure access. Alphabet shares rose 0.35% in pre-market
trading, while Microsoft shares fell 0.35%.
Salesforce (NYSE:CRM) – Salesforce eliminated
about 300 positions this month as part of a strategy to streamline
operations and control costs. These layoffs are part of an ongoing
cost-cutting effort, as the company had already reduced 700
positions earlier this year and about 10% of its total workforce at
the beginning of 2023. The company stated that these actions are
necessary to better align the organizational structure with
customer needs and growth areas.
Datadog (NASDAQ:DDOG) – Datadog’s shares have
not performed well this year, but Evercore ISI forecasts
improvement. Analyst Kirk Materne initiated coverage with an
outperform rating and a price target suggesting a 17% upside
potential. He sees the company as a “consistent performer” in the
future, driven by its AI offerings and expansion of the total
addressable market.
Uber Technologies (NYSE:UBER) – The decision to
impose a 20% tax on the profit margins of taxi operators outside
London was overturned in court on Monday. This reversal came after
private taxi operators, such as Delta Taxis and the Veezu platform,
contested a previous ruling that favored Uber. This previous ruling
required operators to pay value-added tax (VAT) on fares charged
but was considered a victory for the taxi industry with the new
decision. The shares rose 0.39% in pre-market trading.
Amazon (NASDAQ:AMZN) – During Amazon’s two-day
Prime Day event, consumers are expected to spend about $14 billion,
marking a 10.5% increase from the previous year, according to Adobe
Analytics estimates. Prime Day, which began a decade ago, accounts
for between 1% and 2% of Amazon’s annual net global sales. In a
related context, a Bloomberg report revealed how a returned product
inspection failure significantly harmed a family business. Paul and
Rachelle Baron, who developed a reusable swim diaper, achieved
great success on the platform due to positive reviews and Amazon’s
effective algorithm. However, a severe and alarming review, showing
the product dirty and claiming it was re-sent after use, devastated
the Barons’ reputation and sales. This incident highlighted
critical flaws in Amazon’s return policy, causing a crisis for the
Barons’ venture. The shares rose 0.06% in pre-market trading.
Trump Media (NASDAQ:DJT) – Trump Media’s shares
rose 31.4% on Monday after Donald Trump escaped an attack and the
confidential documents case was dismissed. The shares are down
8.85% in pre-market trading.
Verizon Communications (NYSE:VZ) – Verizon is
considering selling thousands of mobile phone towers in the US,
potentially generating over $3 billion. Consultants have been hired
to assess buyer interest. This strategy, common among telecoms, can
provide capital for expansion and debt reduction, similar to
AT&T’s move in 2013.
OneStream Software, KKR &
Co (NYSE:KKR) – OneStream Software, backed by KKR, plans a
valuation of approximately $4.38 billion for its US IPO. The
company aims to sell 24.5 million shares at a price between $17 and
$19 each, intending to raise up to $465.5 million. This marks a
decline from the $6 billion valuation in 2021.
Lineage – Lineage, a company specializing in
temperature-controlled storage and logistics, plans to raise up to
$3.85 billion in its initial public offering. The Novi,
Michigan-based company intends to offer 47 million shares at a
price between $70 and $82 each. This move could value the company
at around $19.2 billion in the market.
Chevron (NYSE:CVX) – Kenneth T. Derr, former
chairman and CEO of Chevron, passed away on Friday at the age of
87. During his tenure from 1989 to 1999, he significantly expanded
Chevron’s global presence, establishing major operations in
locations like the Tengiz field in Kazakhstan, as well as
partnerships in Africa, Kuwait, Saudi Arabia, and Venezuela. He
retired after 40 years of service with the company.
Rio Tinto (NYSE:RIO) – The world’s leading
mining company announced that iron ore shipments in the second
quarter fell short of analysts’ expectations due to a train
derailment in May. Although it did not reach the expected 82.1
million tons, it shipped 80.3 million tons, a 3% increase from the
previous quarter. Additionally, Rio Tinto received all necessary
regulatory approvals for its major iron ore project in Simandou,
Guinea. In response to wildfires in Newfoundland, Canada, the
company initiated a controlled shutdown of its local operations,
awaiting government authorization to resume activities without any
incidents recorded. The shares fell 2.49% in pre-market
trading.
Cleveland-Cliffs (NYSE:CLF),
Stelco (TSX:STLC) – Cleveland-Cliffs announced the
acquisition of Canadian steelmaker Stelco for $2.8 billion (C$3.85
billion), marking its first acquisition since the failed attempt to
acquire US Steel last year. The acquisition marks consolidation
among North American steel producers to face competition from cheap
Chinese imports. The shares of Cleveland-Cliffs rose 0.12% in
pre-market trading.
SolarEdge Technologies (NASDAQ:SEDG) –
SolarEdge announced on Monday that it will cut 400 jobs, including
200 in Israel, as part of an effort to regain profitability and
financial stability. These cuts will affect all departments and
involve both personnel reductions and discretionary spending cuts.
The decision was influenced by market slowdown and excess
inventory, especially in Europe. The shares fell 0.56% in
pre-market trading.
RTX Corp (NYSE:RTX) – Pratt & Whitney, part
of RTX Corp, completed the initial design review for an upgrade to
the F-35 fighter jet engine, aiming to improve its durability and
performance. Funded by the US government, this modernization is
crucial to maintaining the F-35’s air superiority.
Boeing (NYSE:BA) – On Monday, a US judge set an
accelerated schedule to assess objections from the families of
victims of two 737 MAX disasters to the Boeing-DOJ agreement.
Boeing agreed to admit guilt for conspiracy to commit fraud and pay
a $243.6 million fine. The victims’ families will have specific
deadlines to submit and respond to objections to the proposed
agreement. In related news, Aviation Capital Group completed the
purchase of 35 Boeing 737 MAX jets, including 16 of the 737-8 model
and 19 of the larger 737-10 model. This new order raises the
company’s total 737 MAX orders to 82 units. The shares rose 0.25%
in pre-market trading.
Southwest Airlines (NYSE:LUV) – Southwest
Airlines faced criticism after a flight took off from a closed
runway in Portland, Maine, on June 25, ignoring crucial warnings.
The crew reviewed weather information but missed details about
additional runway closures. The incident is under investigation by
the NTSB and FAA.
General Motors (NYSE:GM) – General Motors chose
not to reaffirm its previous forecast of reaching a production
capacity of 1 million electric vehicles in North America by the end
of 2025. A GM representative emphasized the company’s flexibility
in adjusting production based on market demand, without setting a
new capacity target. The shares fell 0.24% in pre-market
trading.
Tesla (NASDAQ:TSLA) – Tesla’s shares closed up
1.8% on Monday, driven by CEO Elon Musk’s support for Trump in the
presidential race. The shares rose 1.51% in pre-market trading on
Tuesday.
GameStop (NYSE:GME) – GameStop CEO Ryan Cohen
aligned with Elon Musk and Bill Ackman in supporting Donald Trump
after an assassination attempt. This sparked intense reactions on
social media, dividing opinions on CEOs involved in politics and
the potential impact on their support bases and businesses. The
shares rose 0.07% in pre-market trading.
Macy’s (NYSE:M) – Macy’s halted talks with
Arkhouse Management and Brigade Capital, which proposed buying the
retailer for $6.9 billion. The company rejected the offer, citing a
lack of convincing value and uncertainties about financing,
resulting in a significant drop in its shares on Monday. The shares
fell 0.30% in pre-market trading.
Vista Outdoor (NYSE:VSTO) – TIG Advisors LLC
plans to vote against the sale of Vista Outdoor’s ammunition
business to the Czechoslovak Group AS, arguing that MNC Capital’s
$3.2 billion offer for the entire company is more advantageous,
offering greater value certainty and lower execution risk.
Philip Morris International (NYSE:PM) – Health
groups accuse Philip Morris International of distorting regulatory
information to promote the IQOS (I Quit Original Smoking) device in
the US. They argue that the company incorrectly suggests FDA
approvals regarding the product’s risk reduction. The success of
IQOS is crucial to Philip Morris’s financial future, which depends
on FDA authorization to expand sales in the US market. The shares
rose 0.31% in pre-market trading.
Novo Nordisk (NYSE:NVO) – Novo Holdings, the
parent company of Novo Nordisk, led a $100 million Series C
fundraising round for Asceneuron, a biotech company developing
treatments for neurodegenerative diseases. The funds will be used
to develop ASN51 for Alzheimer’s treatment, advancing to phase 2
clinical trials.
Earnings
ServisFirst Bancshares (NYSE:SFBS) –
ServisFirst Bancshares announced, after market close on Monday, a
net income of $52.1 million (95 cents per share) for the second
quarter, while analysts expected earnings of 91 cents per share.
The ServisFirst Bank parent company reported revenue of $236.4
million for the period, with adjusted revenue of $114.8 million,
exceeding expectations and the previous year’s $109.83 million.
FB Financial (NYSE:FBK) – FB Financial exceeded
expectations with second-quarter earnings of 84 cents per share,
compared to 76 cents expected by analysts, representing an increase
from the previous year’s 77 cents. The company reported revenues of
$128.22 million, beating expectations by 3.81%.
CrossFirst Bankshares (NASDAQ:CFB) – CrossFirst
Bankshares reported revenue growth after increased loans and
improved credit quality. Net income was $18.6 million, or 37 cents
per share, compared to $16 million, or 33 cents per share, the
previous year. Adjusted earnings reached 37 cents per share,
surpassing the 34 cents forecast. Operating revenue grew to $63.6
million, nearly meeting the $63.7 million expected.
AutoNation (NYSE:AN) – AutoNation expects a
loss of $1.50 per share in the second quarter due to a cyberattack
on its technology provider CDK in June. The attack disabled the
management system used by over 15,000 dealerships, significantly
affecting operations during a critical sales period. The company
now expects earnings per share between $3.15 and $3.30, well below
the approximately $4.50 expected.
Bank of America (NYSE:BAC) – Bank of America
will report its latest quarterly earnings on Tuesday morning.
Analysts project earnings of 80 cents per share for the quarter,
down from 88 cents the previous year, with net interest income of
$13.8 billion, compared to $14.2 billion last year. Bank of America
shares recorded a 0.26% increase in pre-market trading.
GameStop (NYSE:GME)
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