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Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks

Fernanda T
Latest News
August 30 2024 6:00AM

Intuitive Machines (NASDAQ:LUNR) – NASA awarded Intuitive Machines a $116.9 million contract to deliver six payloads to the lunar south pole. This marks the company’s fourth contract under NASA’s Commercial Lunar Payload Services initiative, with the second lunar mission in final assembly stages. Shares are up 18.3% pre-market, after closing up 3.2% on Thursday.

Intel (NASDAQ:INTC) – Intel is considering options to overcome its crisis, including splitting its design and manufacturing operations and selling factory projects. The company faces financial challenges and stock declines despite CEO Pat Gelsinger’s efforts to restore its position. Advisors like Morgan Stanley and Goldman Sachs are helping assess strategies. Shares are up 2.1% pre-market, after closing up 2.7% on Thursday.

Dell Technologies (NYSE:DELL), SecureWorks (NASDAQ:SCWX) – Dell is once again exploring the sale of its cybersecurity subsidiary SecureWorks after previous unsuccessful attempts. Dell has hired bankers from Morgan Stanley and Piper Sandler to assess interest from potential buyers, including private equity firms. While the sale is not guaranteed, SecureWorks shares closed up 20.41% on Thursday. Dell, which controls 97.4% of SecureWorks’ voting shares, considers the sale as part of its strategy to divest non-core assets. Dell shares are up 6.2% pre-market, after closing down 0.7% on Thursday.

Meta Platforms (NASDAQ:META) – Meta’s Llama AI models are being used by companies like Goldman Sachs and AT&T for commercial tasks such as customer service and code generation. Since launch, they’ve been downloaded nearly 350 million times. Meta highlights that offering these models for free helps compete with paid alternatives, despite limitations in some tasks. Shares are up 0.5% pre-market, after closing up 0.3% on Thursday.

OpenAI – Nvidia is in talks to participate in a funding round for OpenAI, which could value the startup at over $100 billion. Apple and Microsoft are also considering participating, with the round led by Thrive Capital. This funding would bolster OpenAI’s position as one of the world’s most valuable startups. Additionally, OpenAI announced that ChatGPT now has over 200 million weekly active users, doubling the number from the fourth quarter. Recently, OpenAI and Anthropic signed agreements with the US government for research and evaluation of their AI models, addressing increasing regulatory scrutiny. These agreements allow the US AI Safety Institute early access to new models to assess risks and collaborate on research, marking an important step for responsible AI use.

Nvidia (NASDAQ:NVDA) – Nvidia is creating a “data center in a box” with its Blackwell platform, combining all hardware and software components into a single system. According to MarketWatch, this is akin to Apple’s transformation into a tech platform, offering advanced integration and services, not just isolated products. Shares are up 1.6% pre-market, after closing down 6.4% on Thursday.

Amazon (NASDAQ:AMZN) – The new version of Amazon’s Alexa, expected in October, will use Anthropic’s Claude AI instead of Amazon’s own AI due to Claude’s superior performance. The new “Remarkable” version will cost $5 to $10 per month and offer more complex responses, while the “Classic” version will remain free. Amazon is betting on this update to compete in the market and generate significant revenue. Shares are up 0.7% pre-market, after closing up 0.8% on Thursday.

ASML Holding NV (NASDAQ:ASML) – The Netherlands plans to limit ASML’s support and maintenance of its machines in China, which could severely impact China’s efforts to develop its semiconductor industry. The decision, influenced by US pressure, could render some equipment inoperable, affecting chip production in the country. Shares are up 1% pre-market, after closing down 0.1% on Thursday.

Nokia (NYSE:NOK), Samsung Electronics (KOSPI:005930) – Nokia is exploring options for its mobile networks business, attracting interest from companies like Samsung, according to Bloomberg. Nokia is considering selling part or all of the business, valued at up to $10 billion, or merging with a rival. Negotiations are in the early stages. Nokia shares are down 2.2% pre-market, after closing up 6.9% on Thursday.

Uber Technologies (NYSE:UBER) – Uber announced an investment in the British autonomous driving startup Wayve to accelerate the development of driving systems with major automakers. While the investment amount was not disclosed, it adds to the $1.05 billion Wayve raised in May. Wayve will use the funding to advance driver assistance technology and develop scalable autonomous vehicles for future Uber deployments. Uber CEO Dara Khosrowshahi reaffirmed on Friday the company’s commitment to the South Korean market, where it faces strong competition from Kakao, which dominates over 90% of the taxi market. Khosrowshahi highlighted that Uber drivers earn more and are busier. Since the Uber Taxi overhaul in March, passenger numbers have grown by nearly 80% in the first half of 2024.

General Motors (NYSE:GM) – General Motors was ordered by a US appeals court to face a class action lawsuit, accusing it of selling vehicles with defective transmissions in 26 states. The lawsuit includes about 800,000 Cadillac, Chevrolet, and GMC vehicles from model years 2015 to 2019. GM tried to contest, but the court rejected its arguments. Additionally, GM announced that its BrightDrop electric vans will be integrated into the Chevrolet brand, leveraging Chevrolet’s extensive dealership network and services in North America. The change aims to increase accessibility, improve customer support, and boost sales. BrightDrop, launched in 2021, will be rebranded as Chevrolet BrightDrop 400 and 600.

Tesla (NASDAQ:TSLA), X, Starlink – Elon Musk and Tesla had a federal lawsuit dismissed, where they were accused of misleading investors by promoting Dogecoin (COIN:DOGEUSD) and engaging in insider trading. Manhattan Judge Alvin Hellerstein ruled that Musk’s comments on Dogecoin were exaggerated and could not be considered fraud. The case was definitively closed. Musk’s X faces possible closure in Brazil after failing to appoint a legal representative as required by the Supreme Court. The court also froze Starlink’s accounts amid the dispute. Musk criticized Alexandre de Moraes, calling him a “malignant dictator” and accusing him of censorship. Moraes and Musk have been at odds for months due to non-compliance with orders to block accounts spreading “fake news” and hate. Tesla shares are up 1.6% pre-market, after closing up 0.3% on Thursday.

Zeekr (NYSE:ZK) – Zeekr announced it will launch its electric SUV, the Zeekr 7X, in China in September, priced at 239,900 yuan ($33,829). This price is more than $1,400 below Tesla’s Model Y, which starts at 249,900 yuan ($35,240). The Zeekr 7X promises a range of up to 780 kilometers and charges 75% in 10.5 minutes. Shares are up 0.9% pre-market, after closing up 7.3% on Thursday.

Lockheed Martin (NYSE:LMT), RTX Corporation (NYSE:RTX) – A joint venture between Lockheed Martin and Raytheon received an additional $1.3 billion contract from the US Army for Javelin missiles, essential in Ukraine’s defense against Russia. Part of a larger agreement, the contract aims to replenish stockpiles and increase production to 4,000 missiles annually by 2026. RTX shares are up 0.3% pre-market, after closing up 1.2% on Thursday.

Embraer (NYSE:ERJ) – Embraer faces delivery delays of one to two months, significantly shorter than those of larger manufacturers like Boeing and Airbus, which can exceed a year. Demand for its E2 jets remains high, and the company maintains a robust order backlog of $21.1 billion, the highest in seven years.

Azul SA (NYSE:AZUL) – Azul’s CEO denied that the company plans to file for bankruptcy protection in the US after rumors caused its US-listed shares to plunge 24.42% on Thursday. He stated that the company is financially healthy and in negotiations with partners due to the depreciation of the real. Azul is exploring options to restructure its shareholding structure.

United Airlines Holdings (NASDAQ:UAL), Alaska Air Group (NYSE:ALK), Hawaiian Holdings (NASDAQ:HA) – United Airlines has alerted the Biden administration about the potential financial impacts of the $1.9 billion merger between Alaska Air and Hawaiian Holdings. The main concern is that the merger could harm marketing and loyalty agreements, affecting the value and profitability of these contracts. The Department of Transportation is evaluating the economic impact and may impose conditions to protect competition.

GE Vernova (NYSE:GEV) – GE Vernova received a Buy recommendation from Jed Dorsheimer at William Blair, citing its expertise in natural gas turbines. Despite environmental concerns, natural gas is seen as a pragmatic solution for power generation, and the stock closed up 4% on Thursday following the recommendation.

SunPower (NASDAQ:SPWR) – A US judge approved a $45 million bid by Complete Solaria for the assets of bankrupt SunPower. If no higher bid emerges by September 10, Complete Solaria will acquire these assets, including the residential solar energy business and the Blue Raven division. An auction is scheduled for September 16, if necessary.

Marathon Oil (NYSE:MRO), ConocoPhillips (NYSE:COP) – Marathon Oil shareholders approved the company’s acquisition by ConocoPhillips for nearly $16 billion on Thursday. The two companies expect to complete the purchase, currently under review by the Federal Trade Commission, by the end of the fourth quarter of 2024.

Rio Tinto (NYSE:RIO), BYD (USOTC:BYDDY) – Rio Tinto and electric vehicle manufacturer BYD are among six companies selected by Chilean state-owned ENAMI to develop a lithium project in the Altoandinos salt flats in northern Chile. Chile, the world’s second-largest lithium producer, seeks to increase production in partnership with the state. The formalization of the partnership is expected by March 2025. Rio Tinto shares are up 0.7% pre-market, after closing up 0.5% on Thursday.

Nasdaq (NASDAQ:NDAQ) – Nasdaq agreed to pay $22 million to settle charges from the US Commodity Futures Trading Commission (CFTC) that its former energy contracts market concealed details of incentives offered to traders. Nasdaq Futures Inc was accused of making misleading statements about the incentive program, violating legal obligations.

Nomura Holdings (NYSE:NMR) – Nomura Holdings is expanding its foreign exchange and emerging markets team by hiring Todd Richards and Sagar Sambrani to strengthen its operations. The new hires follow the arrival of Ruchir Sharma and aim to respond to interest rate volatility and divergences in global monetary policies.

Berkshire Hathaway (NYSE:BRK.B) – Today is Warren Buffett’s birthday, as he turns 94 with 83 years of investment experience. Known for his ability to buy and hold undervalued stocks, he has transformed Berkshire Hathaway into a giant valued at over $1 trillion this week. BRK.B shares are up 0.4% pre-market, after closing up 0.8% on Thursday.

Citigroup (NYSE:C) – Citigroup predicts that the dollar will strengthen after the US presidential elections. The bank’s strategists believe that a possible victory by Donald Trump and protectionist policies could boost the currency, offsetting the expected interest rate cuts by the Federal Reserve.

PDD Holdings (NASDAQ:PDD) – PDD Holdings’ weekly 33% stock drop, owner of retailer Temu, caused billion-dollar losses for hedge funds heavily invested in the company. By the end of June, these funds held 102.8 million PDD shares, and the 30% drop in the third quarter wiped out about $4 billion in value. The drop was driven by pessimistic forecasts from PDD executives, worsening sentiment towards Chinese stocks. PDD shares are up 2.7% pre-market, after closing up 4.8% on Thursday.

NetEase (NASDAQ:NTES), Tencent Holdings (USOTC:TCEHY) – Tencent Holdings and NetEase are scaling back investments in Japanese studios after years of heavy spending and limited success. NetEase cut jobs at its Ouka studio in Tokyo and plans to close it. Tencent is also reviewing its investments in Japan, focusing on partnerships more aligned with its ambitions. Both Chinese giants are prioritizing the domestic market, which is recovering. NetEase shares are up 1.6% pre-market, after closing up 0.2% on Thursday.

Kroger (NYSE:KR), Albertsons (NYSE:ACI) – Kroger swapped $6.8 billion in Albertsons’ bonds for new ones, about 92% of the total offered. The company, which plans to buy Albertsons, sold $10.5 billion in new bonds to finance part of the acquisition. The swap aims to facilitate changes to Albertsons’ loan agreements.

Tyson Foods (NYSE:TSN) – Tyson Foods appointed Curt Calaway as CFO, replacing John R. Tyson, who is on medical leave after being arrested for DUI. Calaway, who has been acting CFO since June, now assumes the role permanently. The appointment is immediate, and Tyson remains with the company.

DexCom (NASDAQ:DXCM) – DexCom shares have fallen nearly 40% in the past six months due to slower-than-expected growth and sales management issues. However, the launch of the new CGM, Stelo, and promises of improvements in the sales force offer recovery potential. The company trades at a P/E multiple of 37 times, which could be attractive if growth accelerates. Shares are up 0.2% pre-market, after closing down 1.2% on Thursday.