Dell Technologies (NYSE:DELL) – Dell
Technologies’ shares have plummeted nearly 50% since May, driven by
concerns over profit margins and Intel’s struggles. Melius Research
analyst Ben Reitzes believes that despite the decline, Dell’s stock
could present a buying opportunity, particularly if the company
shows improvements in margins and profitability. Shares rose 3.3%
in pre-market trading.
Tesla (NASDAQ:TSLA) – Donald Trump and Elon
Musk had a delayed conversation on X due to technical issues, where
Musk suggested a government role if Trump wins. The event, drawing
1.3 million listeners, turned into a Trump rally with Musk as the
moderator. They criticized illegal immigration and discussed
policies on electric vehicles and presidential campaigns. Trump
urged Tesla supporters to vote for him, while Musk cautioned
against demonizing electric vehicles. Musk advocated for
sustainability without sacrifices, praised Tesla, and stated the
economy still needs fossil fuels. Shares rose 0.4% in pre-market
trading.
Electric and hybrid vehicles – According to
EPFR Global data, investors are pulling money out of electric
vehicle (EV) funds due to weaker growth forecasts and concerns
about Donald Trump’s re-election, which could reduce incentives and
increase tariffs on EVs. As of July 31, net outflows from these
funds totaled $1.6 billion, surpassing 2023. In July, global sales
of electric and plug-in hybrid vehicles increased by 21%, totaling
1.35 million units. China sold 880,000 vehicles, with a 31% growth
year-over-year. BYD reported global sales increases of 13% and 44%
for BEVs and PHEVs. In Europe, sales dropped 7.8% for the month,
with a 12% decline in Germany through July. In the U.S. and Canada,
sales grew by 7.1% in July. The EU imposed provisional tariffs on
Chinese electric vehicles, primarily affecting MG Motor. Tesla and
BYD are expected to face less impact due to local production and
lower presence in Europe.
General Motors (NYSE:GM) – General Motors is
laying off employees in China and planning a restructuring with
SAIC. GM, which has seen significant sales declines since 2017,
will focus on electric and premium vehicles. GM will reduce factory
capacity and may implement further job cuts, aiming to improve
profitability in the Chinese market.
Ford Motor (NYSE:F) – Ford and TXU Energy have
announced a plan to offer free off-peak electric vehicle charging
in Texas. Owners can charge at no cost from 7 p.m. to 1 p.m. the
next day. This initiative aims to reduce costs and support a more
efficient power grid. Shares rose 0.1% in pre-market trading.
Goodyear Tire & Rubber (NASDAQ:GT) –
Goodyear will invest $418.4 million (C$575 million) to modernize
its factory in Napanee, Ontario, creating 200 jobs by 2027 and
securing 1,000 positions. The Canadian government will contribute
C$64.3 million. The project aims to increase production, including
tires for electric vehicles, and achieve zero emissions at the
factory by 2040.
Alphabet (NASDAQ:GOOGL) – Investors in Alphabet
are anticipating that Google’s hardware event will unveil AI
innovations to reverse the recent market value loss of over $360
billion. The event will feature a major redesign of Pixel phones
and new AI functionalities, potentially boosting the stock’s
valuation. Google is advancing its hardware launch to compete with
Apple’s iPhone, with Rick Osterloh, who now leads hardware and
Android development, playing a key role. Osterloh joined Google in
2016 after leading Motorola. Additionally, in Russia, Google will
disable AdSense accounts starting in August 2024, halting payments
to Russian users of the service. This decision, affecting sites and
content like YouTube videos, is due to developments in Russia and
the region’s regulatory landscape. Shares rose 0.7% in pre-market
trading.
Ansys (NASDAQ:ANSS), Synopsys
(NASDAQ:SNPS) – The UK’s competition regulator is reviewing whether
Ansys’ $35 billion acquisition by Synopsys would impact competition
in the country. The Competition and Markets Authority has not yet
launched a formal investigation. The merger could face regulatory
challenges due to consolidation in the enterprise software
sector.
JetBlue Airways (NASDAQ:JBLU) – JetBlue Airways
shares dropped more than 20% on Monday after being downgraded by
S&P and Moody’s following the company’s announcement to raise
$3 billion in debt, largely secured by its TrueBlue loyalty
program. S&P cited concerns over financial leverage and
negative cash flow. Shares fell 1% in pre-market trading.
Spirit AeroSystems (NYSE:SPR) – Patrick
Shanahan, CEO of Spirit AeroSystems, will receive a $28.5 million
package following the company’s merger with Boeing. This sum
includes $2.3 million in cash, $26.1 million in stock, and $45,000
in benefits. These payments incentivize the sale of companies, even
if it results in the executive’s departure.
Embraer (NYSE:ERJ) – Embraer is nearing a deal
to supply eight E190-E2 jets to Virgin Australia, edging out
Airbus’s A220 in the competition. The order is valued at around
$300 million, considering industry discounts.
Boeing (NYSE:BA) – Boeing is confident in the
ability of its Starliner capsule to return NASA astronauts Butch
Wilmore and Suni Williams to Earth, despite uncertainties. Former
Space Shuttle commander Eileen Collins emphasized that this
confidence is crucial for Boeing’s credibility. Recently, NASA
considered using a SpaceX vehicle as an alternative. Shares rose
0.1% in pre-market trading.
Scotiabank (NYSE:BNS), KeyCorp
(NYSE:KEY) – Scotiabank is acquiring 14.9% of KeyCorp for $2.8
billion, paying a 17.5% premium over the stock’s closing price last
Friday. This investment aims to expand the Canadian bank’s presence
in the U.S. market, where regional lenders are struggling. KeyCorp
will allow Scotiabank to appoint two directors and will become the
institution’s largest investor. Scotiabank shares fell 3.4% in
pre-market trading, while KeyCorp shares dropped 0.1%.
Bank of America (NYSE:BAC)- Last week, BofA
Securities clients purchased nearly $6 billion worth of U.S.
stocks, the largest inflow since 2008 and the first in five weeks.
Despite heavy selling this month due to recession fears, the
S&P 500 fell 4% but has recently rebounded. While institutional
clients bought, hedge funds and private investors sold. The largest
inflows were into technology and communication services stocks.
Citigroup (NYSE:C) – Shobhit Maini, global head
of digital assets at Citigroup, is leaving after more than 14 years
at the bank to explore new opportunities in the digital assets
sector. He will be succeeded by Deepak Mehra, who now leads the
digital assets division. Shares rose 0.7% in pre-market
trading.
Goldman Sachs (NYSE:GS) – Scott Rubner of
Goldman Sachs sees a brief buying opportunity for U.S. stocks later
this month. With reduced selling pressure and increased corporate
buybacks, he expects a tactical improvement starting August 30.
However, any potential rebound may be limited until the fourth
quarter.
B. Riley Financial (NASDAQ:RILY) – B. Riley
Financial shares plummeted 52% on Monday after the company
announced the suspension of dividends due to losses related to a
loan to the former CEO of Franchise Group. The company will face a
loss of $435 million to $475 million in the second quarter and is
delaying its financial filings. The SEC is also investigating the
former CEO. Shares fell 0.1% in pre-market trading.
Blackstone (NYSE:BX) – Blackstone has sold
3,000 homes to the USS pension fund for $518 million (£405
million), one of the largest real estate deals of the year. The
transaction involves shared ownership units from Sage Homes and is
the second largest in the UK in 2024. Blackstone continues to
invest heavily in residential real estate.
BlackRock (NYSE:BLK) – The activist fund of
Boaz Weinstein of Saba Capital, which invests in BlackRock’s
closed-end funds, is up 22% through July. Weinstein has pressured
BlackRock to reduce discounts in its funds and improve returns,
arguing that allowing exits at net asset value would benefit
investors by $1.4 billion.
Jefferies Financial Group (NYSE:JEF),
Sumitomo Mitsui Banking Corp (NYSE:SMFG) –
Sumitomo Mitsui of Japan has increased its stake in Jefferies
Financial Group to 10.9% and plans to reach 15%. The alliance,
initiated in 2021, strengthens collaboration in mergers and
acquisitions, capital markets, and corporate lending. SMBC CEO Toru
Nakashima now joins Jefferies’ board.
Royal Bank of Canada (NYSE:RY) – Nadine Ahn,
former CFO of Royal Bank of Canada (RBC), is suing the bank for
wrongful termination, claiming gender stereotypes influenced her
dismissal. Ahn alleges that RBC made false accusations about an
undisclosed personal relationship with another executive, leading
to her preferential treatment. She seeks approximately $36.38
million in damages.
Robinhood Markets (NASDAQ:HOOD) – Analyst
Patrick Moley of Piper Sandler sees potential upside in Robinhood
shares after they fell 25% from their July peak. He believes
Robinhood can capitalize on the wealth transfer to younger
generations and expand its operations with a new web platform and
futures trading. Moley raised his price target
from $20 to $23. Shares rose 0.3% in pre-market trading.
Crown Rock Holdings (NYSE:CCK),
Occidental Petroleum (NYSE:OXY) – Crown Rock
Holdings is selling 29.6 million shares of Occidental Petroleum in
an offering coordinated by JP Morgan, Morgan Stanley, and RBC
Capital Markets. Crown Rock received these shares as part of a $12
billion transaction with Occidental. Berkshire Hathaway,
Occidental’s largest shareholder, has not yet expressed interest in
the offering. Occidental Petroleum shares fell 0.4% in pre-market
trading.
Berkshire Hathaway (NYSE:BRK.B) – Berkshire
Hathaway will face a significant tax bill due to the sale of Apple
shares, which yielded $59.6 billion in taxable gains in the second
quarter. The company, led by Warren Buffett, may pay around $15
billion in taxes, significantly impacting its cash flow.
Exxon Mobil (NYSE:XOM) – Exxon Mobil is laying
off 59 employees, including 10 in the Permian Basin and 39 in
Dallas, following its $60 billion acquisition of Pioneer Natural
Resources. The layoffs affect Pioneer’s former headquarters. Exxon
has yet to explain the reasons for the staff cuts. Shares fell 0.1%
in pre-market trading.
Chevron (NYSE:CVX) – Chevron has begun oil
production in a Gulf of Mexico field, facing extreme subsea
pressures of up to 20,000 psi. With a $5.7 billion investment, the
Anchor project promises to operate for 30 years, producing up to
75,000 barrels daily. The innovative technology enables new
deepwater developments.
Starbucks (NASDAQ:SBUX) – Activist investor
Elliott Management wants Jesse Cohn to join Starbucks’ board. While
discussions about the proposal have occurred, no agreement has been
reached. Elliott, which holds a significant stake in Starbucks, has
proposed expanding the board and improving governance, but
Starbucks has not yet confirmed the change.
Johnson & Johnson (NYSE:JNJ) – J&J has
received support for its $6.5 billion settlement in baby powder
litigation, with over 75% of claimants in favor. The company faces
about 61,000 lawsuits alleging that talc caused cancer. J&J
seeks to use a “two-step” bankruptcy to resolve the litigation.
Pfizer (NYSE:PFE) – Pfizer announced on Monday
that its Abrysvo vaccine for respiratory syncytial virus (RSV)
generated a strong immune response in immunocompromised adults in
an advanced study. A 120-microgram dose produced effective
antibodies against RSV-A and RSV-B subtypes. The vaccine was well
tolerated, with safety consistent with other studies. Shares rose
0.2% in pre-market trading.
Ascendis Pharma A/S (NASDAQ:ASND) – The Food
and Drug Administration (FDA) has approved Ascendis Pharma’s
Yorvipath as the only treatment for hypoparathyroidism, a rare
endocrine disorder. Yorvipath, which continuously releases
parathyroid hormone, will be commercially available in the first
quarter of 2025. Analysts expect strong sales in 2025, despite the
delayed launch.
Goodyear Tire and Rubber (NASDAQ:GT)
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