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Airship AI skyrockets with DOJ contract; Carrier Global sells Fire Industrial division for $1.43 billion, and Latest News

Fernanda T
Latest News
March 06 2024 6:01AM

Airship AI Holdings (NASDAQ:AISP) – While the tech sector fell on Tuesday’s trading session, shares of Airship AI stood out, soaring 200% after securing a contract with the U.S. Department of Justice. Based in Redmond, Washington, the company uses AI to assist clients in law enforcement and defense. President Paul Allen stated that the company has a “strong pipeline” for the year. Despite being small, with a market cap of about $135 million, the company has shown remarkable performance since its IPO in December. Shares are up 45.3% in Wednesday’s pre-market.

Carrier Global (NYSE:CARR) – Carrier agreed to sell its Industrial Fire division to Sentinel Capital Partners for $1.43 billion, as part of its strategy to focus on heating and cooling equipment. CEO David Gitlin highlighted the move as part of the company’s transformation into a global leader in smart climate and energy solutions. The deal aims to leverage resources to pay off debt, while the company maintains robust performance, especially in HVAC products.

Amazon (NASDAQ:AMZN) – Amazon Web Services (AWS) announced on Tuesday that it will not charge global network fees for customers wishing to transfer their data to another cloud service provider, addressing regulatory concerns about competition and complying with the new European Union Data Act. The British media regulator, Ofcom, has requested an investigation into Amazon, Google, and Microsoft (NASDAQ:MSFT) in the UK cloud market. Alphabet (NASDAQ:GOOGL) also eliminated its fees but warned about unfair licensing practices.

Meta Platforms (NASDAQ:META) – Facebook and Instagram, owned by Meta, resumed operations after an outage lasting over two hours caused by a technical issue. At its peak, more than 550,000 users reported outages on Facebook and about 92,000 on Instagram.

Cisco Systems (NASDAQ:CSCO) – Cisco Systems is poised to obtain EU antitrust approval without restrictions for its $28 billion offer for cybersecurity company Splunk (NASDAQ:SPLK). The deal, announced last year, will boost its software business amid artificial intelligence growth and will offset the post-pandemic slowdown. The European Commission is expected to approve the deal after a preliminary review on March 13, not identifying any anti-competitive issues.

Cadence Design Systems (NASDAQ:CDNS) – Cadence plans to acquire BETA CAE Systems International AG for $1.24 billion in cash and stock. The deal aims to strengthen its presence in the vehicle and aircraft engine design analysis market, complementing its recent expansion into larger physical systems.

ASML (NASDAQ:ASML) – The Dutch government has initiated “Operation Beethoven” to prevent ASML, the country’s leading company, from moving operations due to anti-immigration policies. The CEO warned about the dependence on foreign labor, highlighting that the change could significantly affect innovation in the company.

SoFi Technologies (NASDAQ:SOFI) – Shares of SoFi Technologies are up 3.7% in pre-market trading after falling 15.3% on Tuesday when it announced an offering of convertible notes. Analysts attribute the drop to technical pressures related to the offering but highlight potential financial benefits.

Uber Technologies (NYSE:UBER) – Uber has set a goal for 100% of its rides in the U.S., Canada, and Europe to be in electric vehicles by 2030, but its CEO expressed doubts about the feasibility of this commitment, highlighting the need for political and business action to achieve it.

Unilever (NYSE:UL) – Unilever announces ambitious emission reduction targets, aiming at suppliers and stores. The climate plan, despite investor concerns, is integrated into the company’s financial growth, while facing financial challenges and political pressures on sustainability.

Anheuser-Busch Inbev (NYSE:BUD) – The Teamsters union approved a five-year deal with Anheuser-Busch Inbev, securing wage increases and health care improvements for 5,000 truck drivers at the brewery’s U.S. facilities. The deal includes an initial wage increase of $4 per hour, totaling $8 per hour, plus additional benefits.

Starbucks (NASDAQ:SBUX) – A coalition of unions, led by the SOC Investment Group, ended the dispute with Starbucks, withdrawing three board candidates a week before the company’s annual meeting. Starbucks committed to negotiating labor agreements after investor pressure. Additionally, the AlShaya Group, which operates Starbucks in the Middle East, plans to lay off more than 2,000 employees due to boycotts related to the Gaza conflict. The decision reflects business difficulties. The company promises support for those affected.

Boeing (NYSE:BA) – Boeing and its largest union begin negotiations on Friday after 16 years, amid the 737 MAX crisis. Unions, capitalizing on the labor market, seek wage increases and better benefits. A possible strike looms, driven by discontent and production constraints. Political support is also a consideration.

General Motors (NYSE:GM), Magna International (NYSE:MGA), Wipro (NYSE:WIT) – GM, Magna, and Wipro announced on Tuesday a collaboration to create SDVerse, a digital platform for buying and selling automotive software. Wipro will invest $5.85 million, securing a 27% stake, while GM and Magna will hold 46% and 27%, respectively.

Toyota Motor (NYSE:TM) – Toyota announced an investment of R$11 billion in Brazil, divided into two parts until 2030, including the production of a new vehicle adapted to the local market. Of the R$11 billion, R$5 billion will be invested by 2026.

Tesla (NASDAQ:TSLA) – Tesla’s European Gigafactory near Berlin temporarily halted operations after a criminal attack that left the factory without power. The incident resulted in significant losses for the company and raised concerns about security and operational stability, impacting innovation in the region. In other news, Donald Trump and Elon Musk met on Sunday to discuss donations for the former president’s campaign. Musk has been a discreet political donor, but a contribution from him could significantly boost Trump’s campaign.

Chevron (NYSE:CVX) – Chevron is closing plants in Iowa and Wisconsin due to financial unviability, resulting from government regulations and falling renewable credit prices. The company is now focusing on expanding its renewable fuel capacity, although regulatory challenges persist.

Target (NYSE:TGT), Walmart (NYSE:WMT) – Major U.S. retailers resume expansion with the opening of new stores, breaking years of closures. Walmart and Target lead, highlighting pickup and delivery services to boost sales. The strategy includes remodels and a focus on larger establishments, adapting to changes in consumer behavior.

Costco Wholesale (NASDAQ:COST) – Richard Galanti, retired CFO of Costco Wholesale, may leave one last gift for investors: an increase in membership fees. This move has been speculated for some time, considering the company’s history and the current economic landscape. Analysts expect news soon.

Citigroup (NYSE:C) – Citigroup projects a modest increase in investment banking fees in the first quarter but expects an 8% to 12% drop in market revenue compared to the strong quarter of 2023. CEO Jane Fraser stated that financial results are expected to exceed expectations, as the company completes a broad reorganization by the end of the month to simplify its structure and resolve pending regulatory issues.

Morgan Stanley (NYSE:MS) – Morgan Stanley laid off about 9% of its staff in the asset management division in China due to the stock market slowdown. The move affected approximately 15 employees since December, reflecting global challenges faced by financial firms in the world’s second-largest economy.