Nike (NYSE:NKE) – Elliott Hill, who started as
an intern at Nike in 1988, will become the next CEO on October 14,
replacing John Donahoe. Hill, with a 32-year career at Nike, is
known for his work ethic and dedication. This change comes at a
critical time, with the company facing declining sales and
increasing competition. Shares rose 6.8% in pre-market trading,
after closing up 0.1% on Thursday.
FedEx (NYSE:FDX) – FedEx reported a sharp drop
in quarterly profit and lowered its forecasts as customers opt for
cheaper shipping options. CEO Raj Subramaniam cited weaker
industrial demand and insufficient cost cuts. The company expects
low growth next fiscal year and is ending a key contract with USPS.
FedEx reported adjusted earnings per share of $3.60 in the fiscal
first quarter, below estimates of $4.75. Revenue was $21.6 billion,
also missing the $21.9 billion forecast. FedEx lowered its earnings
outlook for fiscal 2025, expecting between $20 and $21 per share.
Shares dropped 13.4% in pre-market trading, after closing up 0.7%
on Thursday.
Lennar Corp (NYSE:LEN) – Lennar reported
third-quarter earnings above expectations, driven by low housing
supply and a decline in fixed mortgage rates to about 6.1%. Despite
lower gross margins due to high costs, the company expects demand
to rise with further interest rate cuts. Lennar reported earnings
of $4.26 per share, beating LSEG estimates of $3.63. Revenue was
boosted by the delivery of 21,516 homes, up from 18,559 the
previous year. The company expects to deliver between 22,500 and
23,000 homes in the fourth quarter. Shares fell 2.5% in pre-market
trading, after closing up 2.1% on Thursday.
Macy’s (NYSE:M), United Parcel
Service (NYSE:UPS) – Macy’s announced it will hire over
31,500 employees for the holiday season, down from 38,000 last
year, reflecting a weaker labor market and cautious consumers. In
contrast, UPS plans to increase its seasonal hires to 125,000
workers. Macy’s shares are stable in pre-market trading, while UPS
shares fell 2.4%.
Amazon.com (NASDAQ:AMZN) – Amazon launched an
AI application called Amelia to help independent sellers manage
sales metrics, inventory, and advertising. The software provides
quick responses to questions and can autonomously solve issues.
Initially available to a limited group, Amelia aims to automate
customer service and improve seller experiences. Shares fell 0.3%
in pre-market trading, after closing up 1.9% on Thursday.
Mastercard (NYSE:MA) – According to Mastercard,
U.S. retail sales are expected to grow 3.2% this holiday season,
with companies offering promotions to attract shoppers during a
shorter shopping period. Online sales are expected to rise 7.1%.
Falling inflation and a strong job market are supporting this
recovery. Mastercard shares fell 0.2% in pre-market trading, after
closing down 0.4% on Thursday.
AMC Entertainment (NYSE:AMC), Cinemark
Holdings (NYSE:CNK) – Major cinema chains like AMC, Regal,
and Cinemark announced a $2.2 billion investment over the next
three years to modernize theaters in North America. Improvements
include comfortable seating, immersive sound, laser projection
technology, and facility upgrades. AMC shares rose 0.4% in
pre-market trading, while Cinemark shares remain stable.
Walt Disney (NYSE:DIS) – Walt Disney Animation
Studios has appointed Jared Bush as Chief Creative Officer. Bush,
who has worked at Disney for over a decade, is known for his role
in acclaimed films such as “Encanto,” “Zootopia,” and “Moana.” He
takes over from Jennifer Lee, who served as CCO since 2018 and
co-wrote “Frozen.” Lee will now focus on directing and co-writing
“Frozen 3” and “Frozen 4.” Bush is currently involved in producing
“Zootopia 2” and “Moana 2,” scheduled for release in 2025 and 2024,
respectively. He will oversee the creative production of the
studio’s films, series, and associated projects.
Salesforce (NYSE:CRM) – Salesforce CEO Marc
Benioff said the company’s new AI software provides a complete
solution for enterprise customers, emphasizing that users do not
need to develop their own AI. Salesforce is focusing on AI “agents”
that automate tasks without human supervision, aiming to deploy one
billion agents within a year. In other news, Walt Disney announced
it plans to discontinue using Salesforce’s Slack as a collaboration
tool after a data breach by the hacker group NullBulge exposed over
a terabyte of data. Disney CFO Hugh Johnston stated that most of
the company’s businesses would leave the service by the end of the
year, migrating to simplified corporate tools. Salesforce shares
closed up 5.4% on Thursday.
Hershey (NYSE:HSY) – Hershey laid off a small
number of employees this week, less than 1% of its 20,000 staff, as
part of organizational changes aimed at generating $300 million in
savings. These layoffs come amid rising cocoa prices and declining
sales, according to Reuters.
Coca-Cola (NYSE:KO) – Coca-Cola announced a $1
billion investment in its Nigerian operations over the next five
years, as discussed during a meeting with President Bola Tinubu.
Since 2013, the company has invested $1.5 billion in the country.
Shares rose 0.3% in pre-market trading, after closing down 1.6% on
Thursday.
Starbucks (NASDAQ:SBUX) – New Starbucks CEO
Brian Niccol believes employees should be in the office when
necessary but will not impose specific days for attendance.
Starbucks currently maintains a three-day office policy. Niccol
emphasized the value of collaboration and plans to spend more time
in the office, although his own remote work arrangement has sparked
reactions. Shares fell 0.2% in pre-market trading, after closing up
0.8% on Thursday.
Elanco Animal Health (NYSE:ELAN) – The FDA
approved Zenrelia, a new Elanco drug for treating skin diseases in
dogs. The once-daily immunosuppressant controls itching and atopic
dermatitis. Elanco plans to launch it soon at a price 20% lower
than Apoquel, a competing treatment.
Airbnb (NASDAQ:ABNB) – Airbnb has identified a
significant opportunity to expand its long-term rental business,
focusing on stays of 28 days or more, as short-term rentals face
tighter regulations in tourist destinations like Athens and
Barcelona. CEO Brian Chesky noted that these rentals now account
for 17% to 18% of the company’s bookings.
Apple (NASDAQ:AAPL) – Apple launched the iPhone
16 in nearly 60 countries, but the new model will not come with its
AI software, Apple Intelligence, pre-installed. Users will need to
download the features over time. T-Mobile CEO Mike Sievert said
iPhone 16 sales surpassed those of the iPhone 15, with consumers
opting for Pro and Max models more frequently. Meanwhile, analysts
remain optimistic about the company’s holiday season performance.
In Russia, retailers like M.Video-Eldorado and MTS launched
pre-sales of the iPhone 16 despite Apple’s export ban to the
country. Russian consumers will pay hundreds of dollars more than
Americans due to parallel imports from non-sanctioned countries
like China and Turkey. Shares fell 0.4% in pre-market trading,
after closing up 3.7% on Thursday.
Nvidia (NASDAQ:NVDA) – Nvidia has partnered
with Abu Dhabi’s G42 to create a climate technology lab focused on
AI for weather forecasting. Using the Earth-2 platform, the
companies will develop environmental solutions by leveraging vast
geophysical data. Shares fell 0.6% in pre-market trading, after
closing up 4.0% on Thursday.
OpenAI – OpenAI’s $6.5 billion fundraising
round is nearing completion, with demand far exceeding the amount
available. Investors such as Microsoft, Nvidia, and Apple are
expected to participate, while Sequoia Capital, which backed a
rival startup, will not be involved. OpenAI’s valuation could reach
$150 billion.
Live Nation Entertainment (NYSE:LYV) – Live
Nation has asked a federal judge in New York to dismiss allegations
that the company, along with Ticketmaster, inflated ticket prices
and stifled competition. The company argues that the accusations do
not show direct harm to consumers and defends its practices in
contracts with artists and venues.
Trump Media & Technology Group (NASDAQ:DJT)
– Donald Trump has stated he will not sell his $1.7 billion stake
in Trump Media after restrictions expire. However, other investors,
such as United Atlantic Ventures and Patrick Orlando, may sell
their shares soon. Trump Media shares fell 5.9% on Thursday,
reflecting concerns over insider sales pressure. Shares dropped
another 3.3% in pre-market trading on Friday.
Sunrun (NASDAQ:RUN) – Sunrun shares closed down
5.8% on Thursday after the company ended its sales partnership with
Costco. Costco disagreed with Sunrun’s subscription model, which
offers less upfront revenue. Despite a partnership lasting over a
decade, its impact on sales was limited. Shares rose 0.3% in
pre-market trading.
Shell (NYSE:SHEL) – The sale of Shell’s 37.5%
stake in the Schwedt refinery in Germany to Prax Group is delayed
due to legal proceedings, including Rosneft’s attempt to block the
deal. The sale was expected to close in early 2024 but now depends
on negotiations and court decisions. Shares fell 0.3% in pre-market
trading, after closing up 1.5% on Thursday.
ConocoPhillips (NYSE:COP) – ConocoPhillips will
supply natural gas to Uniper SE for 10 years, delivering up to 10
billion cubic meters to northwestern Europe. This deal strengthens
energy supply security in the region, which seeks alternatives to
Russian gas, highlighting the continued importance of natural gas
in Europe.
Palantir Technologies (NYSE:PLTR) – Palantir
Technologies secured a $100 million contract to expand access to
its AI platform, Maven Smart System, across all branches of the
U.S. military. The platform, which uses intelligence data and
computer vision algorithms, aids in target identification and
battlefield situation analysis. Shares fell 2.2% in pre-market
trading, after closing up 1.2% on Thursday.
Rocket Lab USA (NASDAQ:RKLB) – Rocket Lab USA
aborted a rocket launch in New Zealand on Thursday after the flight
computer halted ignition during the countdown. The rocket, intended
to launch five Kineis nanosatellites, remained intact, and the
company promised updates on a new launch date. Shares fell 0.4% in
pre-market trading, after closing up 0.7% on Thursday.
Plug Power (NASDAQ:PLUG) – Plug Power announced
a new equipment leasing platform, aiming to generate $150 million
in sales. Despite an initial share increase after the announcement,
shares closed down 1.90% on Thursday. The company faces challenges
with sales and is revising its revenue forecasts for the coming
years while attempting to develop hydrogen technologies.
Tesla (NASDAQ:TSLA) – Tesla faced controversy
at its German factory, with local residents concerned about water
shortages and contamination. The factory, which was expected to
boost the economy, has now become a contentious issue in local
elections, potentially benefiting the far-right AfD party, which
has criticized the facility. Shares fell 0.6% in pre-market
trading, after closing up 7.4% on Thursday.
General Motors (NYSE:GM) – General Motors’
autonomous driving unit, Cruise, announced it will soon begin
supervised tests with up to five autonomous vehicles in
California’s Bay Area. Following an incident that suspended
operations, the company resumed testing with human-driven vehicles.
Shares fell 1.2% in pre-market trading, after closing down 0.1% on
Thursday.
Union Pacific (NYSE:UNP) – Union Pacific
projected revenue growth outpacing volumes over the next three
years, with an annual compound growth rate for earnings per share
between high single digits and low double digits. The company also
plans to repurchase up to $5 billion in shares annually starting in
2025.
Delta Air Lines (NYSE:DAL) – Delta Air Lines
announced the suspension of flights between New York-JFK and Tel
Aviv until December 31, citing security concerns in the Middle
East. The airline issued a travel waiver and warned customers about
possible flight schedule changes and cancellations.
Caterpillar (NYSE:CAT) – Caterpillar is
reviewing its diversity, equity, and inclusion (DEI) policies after
activist Robby Starbuck warned of a possible social media attack.
Shares closed up 5.1% on Thursday.
Berkshire Hathaway (NYSE:BRK.B), Bank
of America (NYSE:BAC) – BNSF Railway, controlled by
Berkshire Hathaway, announced a five-year provisional agreement
with the SMART union, providing an average wage increase of 3.5%
per year, along with healthcare benefits and additional vacation
days for railway workers. The contract still requires union
ratification. Warren Buffett, through Berkshire Hathaway, sold $896
million worth of Bank of America shares this week. While Buffett
has not publicly explained his decision, he still holds a
significant position, which may soon fall below the regulatory
threshold of 10%. Shares of BRK.B fell 0.1% in pre-market trading,
while Bank of America shares dipped 0.4%.
JPMorgan Chase (NYSE:JPM) – JPMorgan announced
leadership changes to strengthen its healthcare and technology
investment banking sectors. Ben Carpenter and Jeremy Meilman will
become co-heads of healthcare globally, while Chris Grose and Greg
Mendelson will take on the same roles in the technology sector.
UBS Group AG (NYSE:UBS) – According to Matthew
Mish from UBS, a victory for Kamala Harris would benefit basic
industry and utilities bonds, while sectors like telecommunications
and technology could face challenges. On the other hand, a Donald
Trump victory would favor energy and defense debts. UBS anticipates
private credit deterioration but does not expect it to spread to
the broader market unless the economy slows significantly.
UnitedHealth (NYSE:UNH) – Change Healthcare,
part of UnitedHealth, secured new long-term contracts with
hospitals and clients who had temporarily left the company
following a February cyberattack. The move reflects a trend of
diversification among service providers, accelerated by the hack,
which highlighted the risks of relying on a single supplier.
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