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GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More

Fernanda T
Latest News
June 07 2024 8:09AM

GameStop (NYSE:GME) – GameStop shares are volatile in pre-market trading on Friday, after soaring nearly 50% the day before, following the announcement by the influencer known as “Roaring Kitty” of an upcoming live broadcast on YouTube today at 12 PM, Eastern Time (ET). Since Gill resumed social media activities in May, GameStop’s market value has increased by $11 billion. This rise is part of a pattern of volatile trading influenced by his activities. Gill’s broadcast has garnered over 12,000 registrations. The stock reversed from a gain of over 30% to a 16.4% drop in pre-market trading shortly after the video game retailer announced its first-quarter results.

Meta Platforms (NASDAQ:META) – Meta launched an AI-based ad targeting program on WhatsApp to generate revenue, marking a new approach for the messaging service. The tools use behavioral data from Facebook and Instagram to target potential customers, representing a shift in WhatsApp’s privacy practices.

Nvidia (NASDAQ:NVDA) – As Nvidia threatens to become the world’s most valuable company, surpassing Microsoft, some investors are skeptical and are betting that its sharply rising shares may depreciate. Short bets against Nvidia total about $34 billion, nearly double the combined bets against Apple and Tesla. After today’s market close, Nvidia will conduct a 10-for-1 stock split, making its shares more accessible and potentially broadening its appeal to individual investors. After the split, the share price will be proportionally reduced, which could favor the company’s inclusion in the Dow Jones, which is price-weighted.

Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA) – The U.S. Department of Justice and the Federal Trade Commission have reached an agreement to conduct antitrust investigations into Microsoft, OpenAI, and Nvidia, related to these companies’ dominance in the artificial intelligence market.

Apple (NASDAQ:AAPL) – Next week, Apple will launch a new app called “Passwords” to facilitate login to websites and programs. This feature, part of iOS 18, iPadOS 18, and macOS 15, is an extension of iCloud Keychain and aims to simplify password management, increasing competition with other password managers.

Netflix (NASDAQ:NFLX) – Fiona Harvey, a Scottish lawyer, is suing Netflix and Richard Gadd for defamation, seeking at least $170 million. She claims that the miniseries “Baby Reindeer” falsely portrays her as a stalker and criminal, damaging her reputation, as many viewers believe she is the “real” Martha, the show’s character. Additionally, Netflix has revealed details of the animated films “Spellbound” and “Pookoo,” developed in collaboration with Skydance Animation. “Spellbound” tells the story of Ellian, who seeks to break the spell that turned her parents into monsters, set for release on November 22. “Pookoo” explores the adventure of enemies swapping places, set to premiere in 2025.

Amazon (NASDAQ:AMZN) – Amazon faces a $1.3 billion lawsuit from about 35,000 British retailers, alleging that the company misused their data on the Marketplace to favor its own products and profit, thereby harming competition. The lawsuit was initiated by the British Independent Retailers Association in London.

Mercado Libre (NASDAQ:MELI) – The Latin American e-commerce leader plans to increase its investments in Brazil to more than $4.35 billion (23 billion reais), exceeding the initial forecast due to higher-than-expected sales. The company also expects to hire 11,000 people, up from the initially planned 6,500.

Walmart (NYSE:WMT) – Walmart is replacing paper labels with digital ones in its stores, allowing for quick price updates on more than 120,000 items in minutes. Previously, weekly updates took up to two days. This will improve efficiency and price management, as well as streamline product selection for online orders.

Starbucks (NASDAQ:SBUX) – Starbucks is starting a partnership with Grubhub to deliver coffee and beverages in the U.S., beginning in Pennsylvania, Colorado, and Illinois, with plans for national expansion by August. Meanwhile, Brazilian restaurant operator Zamp has closed a deal to acquire the rights to operate the Starbucks brand in Brazil for R$ 120 million, which includes managing some stores.

Costco Wholesale (NASDAQ:COST) – According to Reuters, when Costco opened a store in a rural Japanese town, it sparked strong competition for workers by offering high wages. In response, a local noodle shop increased wages by a third to retain and attract employees, despite the financial difficulties this posed.

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) – TSMC’s sales in May grew 30%, reaching $7.1 billion, driven by demand in artificial intelligence and the recovery of consumer electronics.

Lyft (NASDAQ:LYFT) – Lyft plans to maintain its competitiveness in the U.S. ride-sharing market, aiming for annual gross bookings growth of 15% by 2027. The company is also diversifying its revenue sources and expects its new advertising sector to grow eightfold in the same period.

Hertz Global Holdings (NASDAQ:HTZ) – Bloomberg reported on Thursday that Hertz is considering raising at least $700 million through secured debt and convertible notes to strengthen its balance sheet.

Instacart (NASDAQ:CART) – Instacart launched a new $500 million share repurchase program to bolster confidence in its growth potential. Completing two previous buyback rounds, the company reiterated its commitment to growth.

Toyota Motor (NYSE:TM), Mitsubishi UFJ Financial Group (NYSE:MUFG), Sumitomo Mitsui Financial Group (NYSE:SMFG) – Japan’s largest banks, MUFG and SMFG, will begin selling their strategic stakes in Toyota, valued at $8.5 billion. This move aligns with Japan’s corporate governance reforms, aimed at reducing cross-shareholdings between companies to avoid conflicts of interest and increase transparency.

Stellantis (NYSE:STLA) – Fiat, through Stellantis, has projected the production of the new hybrid Fiat 500e, with an expected annual sales range of 100,000 to 110,000 units. This version combines a gasoline engine and battery, offering a more affordable option compared to the fully electric model, which sold fewer than 80,000 units last year.

Nio (NYSE:NIO) – The Chinese electric vehicle manufacturer predicted on Thursday that its deliveries in the second quarter will more than double compared to the previous year, reaching between 54,000 and 56,000 units. The estimated revenue is about $2.3 billion. Despite the increase in sales, the company still reports losses.

Delta Air Lines (NYSE:DAL) – Delta Air Lines will announce plans for a new flight between Seattle and Washington’s Reagan National Airport, taking advantage of new legislation creating five new daily slots at this airport. Delta aims to increase competition and reduce prices on a route already served by Alaska Airlines (ALK).

Boeing (NYSE:BA) – Boeing’s space taxi, the CST-Starliner, successfully docked with the International Space Station, carrying NASA astronauts Sunita Williams and Barry Wilmore for a critical test flight. Despite initial thruster issues, the mission marks an important step for Boeing in space transportation.

Lockheed Martin (NYSE:LMT) – Germany plans to acquire eight additional F-35 fighters from Lockheed Martin, in addition to the 35 already ordered, raising the total number to 43. This acquisition reflects Berlin’s commitment to updating its defense capabilities with the most advanced aircraft available.

Devon Energy (NYSE:DVN) – Devon Energy lost bids to acquire three oil and gas companies due to the rejection of its stock as a form of payment. This includes failing to outbid offers from ConocoPhillips and Occidental Petroleum, respectively $22 billion and $12 billion, negatively affecting its competitive position.

Sociedad Quimica y Minera de Chile (NYSE:SQM), Rothschild & Co (EU:ROTH) – Rothschild & Co is leading the search for partners for Codelco in a new major lithium project in Chile, called the “Paloma Project,” with production expected to start in 2030. The project initially contemplates lithium production through evaporation ponds, with a future possibility of using direct lithium extraction technology.

Moody’s (NYSE:MCO) – Moody’s Ratings placed the long-term debt ratings of U.S. regional banks, including Old National Bancorp (NASDAQ:ONB), under review for downgrade due to concerns about exposure to the commercial real estate sector. The justification is the concentration in loans from this sector, increasing risks during recession periods. Additionally, a Moody’s report highlights that most global insurers plan to invest more in the private credit market in the coming years. This market, although less transparent and riskier than public credit, has attracted insurers due to attractive returns, especially in the U.S., where these holdings already represent 36% of their regional investments.

Emerson (NYSE:EMR), Blackstone (NYSE:BX) – Emerson agreed to sell its 40% stake in the Copeland joint venture to Blackstone for $3.5 billion, seeking to simplify its business and focus more on automation.

PayPal (NASDAQ:PYPL) – PayPal shares are up 0.25% in pre-market trading, following a 5.5% increase on Thursday. The rise came amid optimistic expectations for the new Fastlane product, which simplifies the checkout process. This represents a rebound after underperforming the market in recent years.

Citigroup (NYSE:C) – Analysts at BofA Securities suggest that Citigroup could sell its wealth management business due to inefficiency and uncertain results in this segment. Jane Fraser, Citigroup’s CEO since 2021, is restructuring the bank, reducing businesses and jobs, and introducing new leaders to streamline operations.

Morgan Stanley (NYSE:MS) – Morgan Stanley faces disputes due to a judge’s decision classifying its deferred compensation programs under ERISA law, affecting arbitrations over payments. The company seeks review of the decision, arguing that it complicates its defense in other similar arbitrations.

Waystar Holding Corp. (WAY) – The healthcare payments software maker set the price of its initial public offering (IPO) at $21.50 per share, hitting the midpoint of the $20 to $23 range. With this, the company raised $968 million, reaching a market value of about $3.6 billion. Waystar plans to use the proceeds to pay off debt. Waystar shares will begin trading on Friday on the Nasdaq Global Select Market under the symbol WAY.