BKR Baker Hughes Company

McDonald’s (NYSE:MCD) – A U.S. investigation into an E. coli outbreak focuses on McDonald’s Quarter Pounder hamburgers. The company has suspended the use of fresh onions and beef patties in certain states. Health authorities are working to identify the contaminated ingredient.

Arm Holdings (NASDAQ:ARM), Qualcomm (NASDAQ:QCOM) – Arm canceled its licensing agreement with Qualcomm, which allowed the use of its intellectual property to design chips. The decision comes amid a legal battle, with a 60-day notice. Qualcomm disputes the cancellation and expects it to impact future laptop shipments. Arm’s shares fell 1.1%, while Qualcomm’s dropped 5.3% in pre-market trading.

Apple (NASDAQ:AAPL) – Apple’s CEO, Tim Cook, met with China’s Minister of Industry, Jin Zhuanglong, during his visit to Beijing. Jin encouraged Apple to expand its presence in China, increase investments in innovation, and collaborate with Chinese companies. Apple recently launched its new iPhones in China, facing tough competition from Huawei. Investors should also watch Verizon’s earnings report, which revealed a 3.0% postpaid plan renewal rate, down from 3.4% last year, hinting at a softer start for the iPhone’s new cycle. Shares fell 0.3% in pre-market trading.

Meta Platforms (NASDAQ:META) – Meta’s CEO, Mark Zuckerberg, successfully had a lawsuit dismissed that accused the company of misleading shareholders about child safety on Facebook and Instagram. Judge Charles Breyer ruled that the plaintiff, Matt Eisner, failed to prove economic losses and that Meta wasn’t obligated to disclose specific child safety issues. Shares fell 0.1% in pre-market trading.

Netflix (NASDAQ:NFLX) – Netflix shares have surged over 50% this year, and co-founder Reed Hastings has sold nearly $200 million worth of stock through an automated trading plan. Hastings still holds over 2.2 million shares to sell through 2033, valued at about $1.74 billion.

Qualcomm (NASDAQ:QCOM) – Qualcomm’s CEO, Cristiano Amon, projected that within five years, all smartphones would feature integrated artificial intelligence capabilities. He emphasized that Qualcomm is leading innovation with its faster and more efficient Snapdragon processors, preparing mobile devices to run advanced AI features and laptop-level applications.

Alphabet (NASDAQ:GOOGL), Qualcomm (NASDAQ:QCOM) – Qualcomm announced a partnership with Alphabet to combine chips and software to help automakers develop custom AI voice assistants. This collaboration involves the Android Automotive OS running on Qualcomm chips, offering built-in voice assistants for vehicles without relying on drivers’ phones. Alphabet’s shares fell 0.2% in pre-market trading.

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) – TSMC notified the U.S. after TechInsights found a chip made by TSMC in a Huawei product, suggesting potential violations of U.S. sanctions against the Chinese company. While TSMC claims it hasn’t supplied chips to Huawei since 2020, the discovery raises questions about export restrictions. Shares fell 0.8% in pre-market trading.

Walmart (NYSE:WMT) – Walmart agreed to pay $7.5 million to settle claims of illegally disposing of hazardous and medical waste in California’s municipal landfills from 2015 to 2021. Without admitting fault, the company will pay a fine and hire an independent auditor to monitor and improve waste management in its facilities. Shares fell 0.2% in pre-market trading.

Abercrombie & Fitch (NYSE:AFN) – Former Abercrombie & Fitch CEO Mike Jeffries has been accused of running a sex trafficking ring, coercing young men into sexual acts with promises of modeling careers. Jeffries, his partner, and another man face charges of sex trafficking and interstate prostitution. According to Bloomberg, they could face a maximum sentence of life imprisonment or a minimum of 15 years if convicted. Shares closed down 3.2% on Tuesday.

Spirit Airlines (NYSE:SAVE), Frontier Airlines (NASDAQ:ULCC) – Frontier Airlines is considering a new bid to acquire Spirit Airlines, with discussions at an early stage, according to The Wall Street Journal. A deal could occur if Spirit faces bankruptcy as part of a debt restructuring. In 2022, Spirit nearly merged with Frontier, but JetBlue won the bidding war. Spirit’s shares rose 15.6% in pre-market trading, while Frontier’s fell 0.1%.

Latam Airlines Group SA (NYSE:LTM) – Latam sees growth opportunities in South America, leveraging its strengthened financial position. The company plans to increase capacity by up to 16% in 2024 and expects moderate growth in the following years. Latam also refinanced part of its debt and recently returned to the New York Stock Exchange.

Bank of America (NYSE:BAC) – Bank of America’s CEO, Brian Moynihan, advised the Federal Reserve to be cautious with the pace of interest rate cuts, stating that they “were late” in raising rates in 2022. He predicts more gradual reductions until 2025, with inflation falling to 2.3%. Moynihan highlighted that a terminal rate of 3% would be a positive change for the U.S. economic environment. Shares fell 0.1% in pre-market trading.

HSBC Holdings (NYSE:HSBC) – HSBC’s new CEO, Georges Elhedery, implemented a major restructuring at the company but left many important details vague, such as potential job cuts and the value of the cost savings. Employees and investors remain uncertain about their roles in the new structure and the financial impact of the changes. Shares fell 0.7% in pre-market trading.

Blackstone (NYSE:BX) – Blackstone’s CEO, Steve Schwarzman, stated that the U.S. is likely to avoid a recession regardless of who wins the presidential election, due to economic growth-focused policy proposals. He noted that both Democrats and Republicans are proposing stimulus policies, with the real impact depending on what is implemented. Additionally, Blackstone said the private credit sector is in the early stages of expansion, driven by investment-grade assets. The $30 trillion investment-grade loan market has significant potential. Blackstone’s credit arm has grown, attracting investors seeking higher returns.

Texas Instruments (NASDAQ:TXN) – Texas Instruments exceeded third-quarter earnings expectations due to recovering demand for analog chips, especially in the Chinese automotive market and smartphone and PC orders. The company reported earnings per share of $1.47 in Q3 2024, surpassing the estimate of $1.38. Revenue was $4.15 billion, above the expected $4.12 billion. However, revenue guidance for the next quarter, between $3.7 billion and $4 billion, fell short of the expected $4.06 billion, projecting weakness in the industrial segment. Shares rose 4.1% in pre-market trading.

Starbucks (NASDAQ:SBUX) – Starbucks suspended its annual forecast after reporting preliminary results showing a 7% drop in same-store sales in the U.S. and a 14% drop in China. Net sales fell 3%, reaching $9.1 billion. Earnings per share were $0.80, below the $1.03 expected by analysts. Shares fell 6% in pre-market trading.

Tesla (NASDAQ:TSLA) – Tesla is set to release its earnings report after the market closes. Wall Street expects adjusted earnings of 60 cents per share in the third quarter, with revenue of $25.47 billion. Operating margin is expected to rise to around 8%. Shares fell 0.7% in pre-market trading.

Enphase Energy (NASDAQ:ENPH) – Enphase Energy reported revenue of $380.9 million for the third quarter of 2024, below the estimate of $391.98 million. GAAP net income was $45.8 million, and diluted earnings per share were $0.33, falling short of the expected $0.38. Gross margin was 46.8%, and free cash flow reached $161.6 million, with $1.77 billion in cash. Revenue guidance for the next quarter fell below analyst expectations, ranging from $360 million to $400 million. Shares fell 12.8% in pre-market trading.

Seagate Technology (NASDAQ:STX) – Seagate reported revenue of $2.17 billion in the first quarter of fiscal 2025, surpassing the estimate of $2.12 billion. GAAP earnings per share were $1.41, reversing last year’s loss, with net income of $305 million. Gross margin increased to 32.9%. Free cash flow was $27 million, and the dividend increased by 3% to $0.72 per share. Shares fell 4.6% in pre-market trading.

Baker Hughes (NASDAQ:BKR) – Baker Hughes reported revenue of $6.9 billion, below the estimate of $7.2 billion. However, diluted GAAP earnings per share were $0.77, a 51% increase from last year, while net income reached $766 million, up 48%. Free cash flow was $754 million, and adjusted EBITDA reached $1.208 billion, a 23% YoY increase. Growth was driven by international demand for drilling equipment and LNG projects, offsetting declines in North America.

Canadian National Railway (NYSE:CNI) – Canadian National Railway reported sales of CAD 4.11 billion in the third quarter of 2024, compared to CAD 3.99 billion last year. Net income was CAD 1.085 billion, slightly below CAD 1.108 billion from the prior year. Diluted earnings per share were CAD 1.72, compared to CAD 1.69 in the same period last year.

Volaris (NYSE:VLRS) – Volaris reported net income of $37 million in Q3 2024, reversing last year’s $39 million loss. Total operating revenue was $813 million, a 4% decline. EBITDAR rose 52% to $315 million, with a 38.7% margin, while TRASM increased by 12% to $9.38 cents, despite capacity reductions due to engine inspections.

Nabors Industries (NYSE:NBR) – Nabors Industries reported revenue of $743.31 million in Q3, slightly below last year’s $744.14 million. Net loss was $55.83 million, higher than last year’s $48.92 million. Diluted loss per share increased to $6.86, compared to $6.26 in the same quarter last year.

Lloyds Banking Group (NYSE:LYG) – Lloyds Banking Group beat third-quarter earnings expectations, posting $2.34 billion (£1.8 billion), exceeding the £1.6 billion forecast. Although lower than last year’s £1.9 billion profit, the bank maintained its guidance for 2024. Performance was driven by increased lending and growth in credit cards and mortgages. Shares rose 0.9% in pre-market trading.

Deutsche Bank (NYSE:DB) – Deutsche Bank posted a Q3 net profit of €1.46 billion, up 42% from the previous year and in line with analyst expectations. Investment bank revenue grew by 11%, surpassing the 6.5% forecast. Provisions of $475 million for litigation helped recover after losses in Q2. Shares fell 2.7% in pre-market trading.

Baker Hughes (NASDAQ:BKR)
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