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Shares of WW International Plummet after Oprah Exits, EA Announces Workforce Reduction and Restructuring Plan, and Latest News

Fernanda T
Latest News
February 29 2024 1:11AM

WW International (NASDAQ:WW) – Weight Watchers’ shares plummeted 22% in pre-market trading after Oprah Winfrey announced her departure from the board and the donation of her shares to the African American cause. The decision comes as companies, including WW, explore weight loss drugs. Winfrey previously revealed using such medications.

Electronic Arts (NASDAQ:EA) – Electronic Arts will reduce 5% of its workforce and restructure its real estate sector as part of a reorganization plan, aiming to cut costs amid the video game industry’s challenges. The company expects related charges of $125 million to $165 million.

Apple (NASDAQ:AAPL) – Apple plans to reveal more about its implementation of generative artificial intelligence later this year, announced CEO Tim Cook at the annual shareholder meeting. Cook highlighted the innovative potential of generative AI, investing significantly in this area to unlock transformative opportunities for users.

Meta Platforms (NASDAQ:META) – Meta is gearing up to launch the next version of its large artificial intelligence model, Llama 3, in July, aiming to provide more accurate responses to users’ controversial questions. The company seeks to “flex” the model to provide context on contentious issues.

Shift4 Payments (NYSE:FOUR) – Fiserv (NASDAQ:FISV) and Amadeus IT Group are competing to acquire Shift4 Payments, a payment processor valued at nearly $7 billion. Negotiations are underway, with final offers expected soon.

TSMC (NYSE:TSM) – Taiwan Semiconductor Manufacturing has promoted YJ Mii and YP Chyn to co-chief operating officers, marking a new generation of leadership. Both company veterans, they assume the co-COO role starting March 1, reporting directly to CEO CC Wei.

Walt Disney (NYSE:DIS) – Reliance Industries and Walt Disney announced on Wednesday a merger of TV and streaming assets in India, forming an $8.5 billion entertainment giant. Reliance will inject $1.4 billion, retaining over 63% of the shares.

GSK (NYSE:GSK) – GSK agreed to confidentially settle another lawsuit in California related to Zantac, its discontinued heartburn medication alleged to cause cancer. This is the latest in a series of settlements by the British pharmaceutical company to end litigation.

Sandoz (USOTC:SDZNY) – The Swiss manufacturer of generics and biosimilars announced on Thursday a $265 million settlement agreement in a U.S. price-fixing case. The settlement is subject to judicial approval and does not imply admission of wrongdoing.

UnitedHealth Group (NYSE:UNH) – Hackers, identified as “Blackcat” or “ALPHV”, claimed to have stolen millions of confidential records from UnitedHealth, including medical insurance data, in a message quickly removed from their darknet site on Wednesday.

Morgan Stanley (NYSE:MS) – Morgan Stanley expands its regional presence with the opening of an office in Abu Dhabi, United Arab Emirates (UAE), joining other global banks in the capital. The initiative reflects the growth and diversification of capital markets in the MENA region.

Santander (NYSE:SAN) – Banco Santander SA plans to acquire about one-third of Seaya, Spain’s leading venture capital firm, and invest in the Andromeda fund, focused on clean technology. Seaya, led by Beatriz Gonzalez, manages about 650 million euros.

Coinbase Global (NASDAQ:COIN) – Coinbase CEO Brian Armstrong reported that the exchange is recovering after a surge in traffic overwhelmed systems, resulting in erroneous account balances. Issues coincided with Bitcoin’s rise, but activity now normalizes after updates and continuous monitoring.

Carlyle Group (NASDAQ:CG) – Jeff Currie, former head of commodities research at Goldman Sachs, has been appointed to lead energy transition analysis at Carlyle, a private equity giant. He brings extensive experience to assess investment opportunities in the energy markets.

BHP Group (NYSE:BHP) – The world’s largest listed miner announced on Thursday the dissolution of global teams, transferring functions like planning and environment to mining asset management. The changes aim to increase efficiency and streamline decision-making, affecting operations in Australia and the Americas.

Shell (NYSE:SHEL) – Savion, a U.S. solar energy subsidiary, is selling about a quarter of its assets under Shell as part of its withdrawal from renewable energy projects. Jefferies (NYSE:JEF) is coordinating the sale of up to 10.6 GW of solar and storage assets.

Boeing (NYSE:BA) – Boeing must present a comprehensive plan to address systemic quality control issues within 90 days, as required by the head of the FAA, after a critical meeting with CEO Dave Calhoun. Whitaker from the FAA emphasized the need for profound changes at Boeing to ensure safety.

Polestar (NASDAQ:PSNY) – Polestar secured a $950 million loan from a banking syndicate, strengthening its position after Volvo Cars ended financing. With a forecast of double-digit gross profit by 2024, it faces challenges while seeking financial balance by 2025.